Shell Asset Management Co. Sells 3,426 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Shell Asset Management Co. lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 30.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,941 shares of the transportation company's stock after selling 3,426 shares during the period. Shell Asset Management Co.'s holdings in Old Dominion Freight Line were worth $1,401,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $494,916,000. T. Rowe Price Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after purchasing an additional 1,361,397 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. Raymond James Financial Inc. acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $114,449,000. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Old Dominion Freight Line by 92.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after buying an additional 573,586 shares during the period. Institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $171.00 to $168.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a research note on Wednesday, April 2nd. UBS Group decreased their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Bank of America raised their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Jefferies Financial Group cut their price target on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $182.26.

Old Dominion Freight Line Price Performance

ODFL traded down $5.41 during midday trading on Wednesday, reaching $164.19. 2,048,818 shares of the company's stock were exchanged, compared to its average volume of 1,677,385. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $159.78 and a two-hundred day simple moving average of $183.15. The firm has a market capitalization of $34.70 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26.

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 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. Old Dominion Freight Line's quarterly revenue was down 5.8% on a year-over-year basis. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

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.