SG Americas Securities LLC Decreases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

SG Americas Securities LLC lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,129 shares of the transportation company's stock after selling 3,761 shares during the period. SG Americas Securities LLC's holdings in Old Dominion Freight Line were worth $13,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after acquiring an additional 96,410 shares in the last quarter. Norges Bank purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $494,916,000. Capital World Investors boosted its holdings in Old Dominion Freight Line by 1.1% in the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock valued at $442,784,000 after purchasing an additional 27,367 shares in the last quarter. Northern Trust Corp increased its stake in Old Dominion Freight Line by 15.2% in the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock valued at $349,952,000 after purchasing an additional 261,305 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Old Dominion Freight Line by 13.6% in the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock valued at $272,969,000 after purchasing an additional 185,500 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ODFL. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, April 2nd. Raymond James set a $185.00 target price on Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Stephens reissued an "overweight" rating and issued a $180.00 target price (down from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 24th. Jefferies Financial Group dropped their price target on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a "buy" rating and a $236.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $176.50.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded down $0.28 during trading hours on Thursday, hitting $161.83. The company's stock had a trading volume of 295,226 shares, compared to its average volume of 1,816,159. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The business's 50-day moving average is $159.08 and its two-hundred day moving average is $177.09. The company has a market capitalization of $34.20 billion, a PE ratio of 29.53, a PEG ratio of 2.89 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the business earned $1.34 earnings per share. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.

About Old Dominion Freight Line

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.