Wilmington Savings Fund Society FSB Sells 2,808 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Wilmington Savings Fund Society FSB reduced its holdings in Old Dominion Freight Line by 29.7%, selling 2,808 shares and dropping its stake to 6,639 shares, worth approximately $1,078,000.
• Old Dominion Freight Line reported earnings of $1.27 per share, missing analysts' expectations of $1.29, with revenue declining 6.1% year-over-year to $1.41 billion.
• The company declared a quarterly dividend of $0.28 per share, yielding 0.8%, with investors expecting a total annual payout of $1.12.

Wilmington Savings Fund Society FSB lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 29.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,639 shares of the transportation company's stock after selling 2,808 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Old Dominion Freight Line were worth $1,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Old Dominion Freight Line by 15.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,218 shares of the transportation company's stock valued at $685,000 after acquiring an additional 563 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Old Dominion Freight Line by 36.7% in the second quarter. Sequoia Financial Advisors LLC now owns 7,739 shares of the transportation company's stock worth $1,256,000 after purchasing an additional 2,079 shares during the period. Vest Financial LLC grew its stake in Old Dominion Freight Line by 66.8% in the second quarter. Vest Financial LLC now owns 170,838 shares of the transportation company's stock worth $27,727,000 after purchasing an additional 68,410 shares during the period. MGO One Seven LLC purchased a new stake in Old Dominion Freight Line in the second quarter worth $3,064,000. Finally, CWM LLC grew its stake in Old Dominion Freight Line by 52.0% in the second quarter. CWM LLC now owns 15,165 shares of the transportation company's stock worth $2,461,000 after purchasing an additional 5,186 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 2.3%

NASDAQ ODFL opened at $138.10 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $133.69 and a 12 month high of $233.26. The stock has a market cap of $29.02 billion, a P/E ratio of 26.97, a P/E/G ratio of 3.19 and a beta of 1.19. The stock's fifty day moving average price is $145.55 and its 200-day moving average price is $154.95. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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 return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the company posted $1.48 earnings per share. The company's revenue was down 6.1% on a year-over-year basis. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.88%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stephens reduced their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Wolfe Research upped their price target on Old Dominion Freight Line from $129.00 to $140.00 in a research note on Tuesday, October 7th. Jefferies Financial Group reduced their price target on Old Dominion Freight Line from $160.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, October 9th. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. Finally, UBS Group upped their price target on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $163.86.

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.

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