William Blair Investment Management LLC Sells 80,934 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• William Blair Investment Management LLC significantly reduced its holdings in Old Dominion Freight Line, selling 80,934 shares and lowering its position by 55.7% in the second quarter.
• Old Dominion Freight Line reported $1.27 EPS for the last quarter, missing analysts' expectations by ($0.02), with a year-over-year revenue decrease of 6.1%.
• The company announced a quarterly dividend of $0.28 per share, representing an annualized yield of 0.8% and a payout ratio of 21.88%.

William Blair Investment Management LLC lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 55.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,485 shares of the transportation company's stock after selling 80,934 shares during the period. William Blair Investment Management LLC's holdings in Old Dominion Freight Line were worth $10,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Values First Advisors Inc. grew its position in Old Dominion Freight Line by 4.5% in the 2nd quarter. Values First Advisors Inc. now owns 6,727 shares of the transportation company's stock worth $1,092,000 after purchasing an additional 291 shares during the period. Nordea Investment Management AB lifted its stake in shares of Old Dominion Freight Line by 5.6% during the 2nd quarter. Nordea Investment Management AB now owns 17,071 shares of the transportation company's stock valued at $2,771,000 after buying an additional 912 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $467,000. Bridges Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 0.7% during the 2nd quarter. Bridges Investment Management Inc. now owns 688,961 shares of the transportation company's stock valued at $111,818,000 after purchasing an additional 4,849 shares during the last quarter. Finally, Mutual Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the second quarter worth about $212,000. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 1.9%

NASDAQ:ODFL opened at $140.71 on Tuesday. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $233.26. The firm has a 50 day moving average of $145.38 and a 200 day moving average of $154.55. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $29.57 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 3.26 and a beta of 1.19.

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

Old Dominion Freight Line Announces Dividend

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

Analyst Ratings Changes

ODFL has been the topic of a number of research reports. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an "in-line" rating on the stock in a report on Tuesday, September 30th. UBS Group boosted their price objective on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a research report on Thursday, July 31st. Finally, Wolfe Research upped their price target on shares of Old Dominion Freight Line from $129.00 to $140.00 in a research report on Tuesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $163.86.

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.

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