Swedbank AB Sells 34,893 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Swedbank AB has reduced its holdings in Old Dominion Freight Line, Inc. by 29.9%, now owning 81,884 shares after selling 34,893 shares in the second quarter.
• Despite missing earnings expectations in the last quarterly report, several analysts have upgraded Old Dominion Freight Line's stock ratings, with a current consensus rating of "Hold".
• Old Dominion Freight Line recently announced a quarterly dividend of $0.28 per share, equating to an annual yield of 0.8%.

Swedbank AB trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 29.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,884 shares of the transportation company's stock after selling 34,893 shares during the period. Swedbank AB's holdings in Old Dominion Freight Line were worth $13,290,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Old Dominion Freight Line by 48.7% in the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock valued at $514,000 after buying an additional 1,018 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Old Dominion Freight Line by 9.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock valued at $2,911,000 after acquiring an additional 1,529 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Old Dominion Freight Line by 5.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company's stock valued at $1,507,000 after purchasing an additional 443 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Old Dominion Freight Line by 29.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company's stock valued at $395,000 after purchasing an additional 537 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC grew its stake in shares of Old Dominion Freight Line by 6.0% in the 1st quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company's stock worth $17,839,000 after purchasing an additional 6,133 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Benchmark restated a "hold" rating and issued a $102.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. JPMorgan Chase & Co. decreased their target price on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. UBS Group cut their target price on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Raymond James Financial decreased their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Finally, Susquehanna lifted their price target on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 10th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $166.95.

Old Dominion Freight Line Stock Up 0.3%

Shares of NASDAQ ODFL traded up $0.43 during mid-day trading on Tuesday, reaching $139.36. The company had a trading volume of 615,647 shares, compared to its average volume of 1,855,248. The stock has a fifty day moving average of $151.88 and a two-hundred day moving average of $158.14. Old Dominion Freight Line, Inc. has a 12-month low of $138.65 and a 12-month high of $233.26. The company has a market capitalization of $29.29 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 3.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.88%.

Old Dominion Freight Line Company 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.