Sirios Capital Management L P Lowers Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sirios Capital Management L P cut its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,603 shares of the transportation company's stock after selling 1,705 shares during the quarter. Old Dominion Freight Line comprises about 1.8% of Sirios Capital Management L P's portfolio, making the stock its 19th biggest holding. Sirios Capital Management L P's holdings in Old Dominion Freight Line were worth $9,985,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Whipplewood Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $41,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $51,000. Versant Capital Management Inc grew its holdings in shares of Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock worth $62,000 after purchasing an additional 110 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth $69,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $0.71 during mid-day trading on Monday, reaching $146.03. The company's stock had a trading volume of 1,204,150 shares, compared to its average volume of 1,671,600. The firm's fifty day moving average price is $165.37 and its two-hundred day moving average price is $187.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The company has a market capitalization of $30.98 billion, a P/E ratio of 26.66, a PEG ratio of 2.89 and a beta of 1.25.

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 earnings per share 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 company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the previous year, the business earned $1.34 earnings per share. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.28 dividend. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent analyst reports. Citigroup raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $186.00 to $183.00 in a research report on Tuesday, April 8th. UBS Group decreased their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Truist Financial reduced their target price on Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday. Bank of America dropped their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and an average price target of $182.95.

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.