Segall Bryant & Hamill LLC Cuts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Segall Bryant & Hamill LLC trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,617 shares of the transportation company's stock after selling 7,513 shares during the quarter. Segall Bryant & Hamill LLC owned 0.07% of Old Dominion Freight Line worth $23,761,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ODFL. Blueshift Asset Management LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $630,000. Ameriprise Financial Inc. grew its position in Old Dominion Freight Line by 2.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock valued at $223,281,000 after acquiring an additional 35,778 shares during the last quarter. GAMMA Investing LLC raised its stake in Old Dominion Freight Line by 48.7% during the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock worth $514,000 after acquiring an additional 1,018 shares in the last quarter. Sciencast Management LP bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $309,000. Finally, World Investment Advisors acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $360,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. Baird R W raised Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Benchmark reiterated a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Wells Fargo & Company raised their price target on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Finally, Evercore ISI reduced their price objective on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of "Hold" and an average target price of $174.45.

Old Dominion Freight Line Stock Up 0.8%

Shares of Old Dominion Freight Line stock traded up $1.26 during trading hours on Thursday, reaching $162.09. The company's stock had a trading volume of 1,158,504 shares, compared to its average volume of 1,641,528. The company has a market capitalization of $34.25 billion, a P/E ratio of 30.40, a P/E/G ratio of 3.25 and a beta of 1.25. The stock's fifty day simple moving average is $164.02 and its two-hundred day simple moving average is $170.32. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.32 and a current ratio of 1.32.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 EPS. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. Old Dominion Freight Line's dividend payout ratio is currently 21.01%.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.