Pitcairn Co. Reduces Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pitcairn Co. trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,231 shares of the transportation company’s stock after selling 311 shares during the period. Pitcairn Co.’s holdings in Old Dominion Freight Line were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $29,000. Carroll Financial Associates Inc. purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. CVA Family Office LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Pittenger & Anderson Inc. acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $37,000. Finally, Clearstead Advisors LLC lifted its position in Old Dominion Freight Line by 1,828.6% during the third quarter. Clearstead Advisors LLC now owns 135 shares of the transportation company’s stock worth $39,000 after buying an additional 128 shares in the last quarter. 77.86% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on ODFL shares. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $324.00 target price for the company in a research note on Monday, March 14th. Cowen raised their price objective on shares of Old Dominion Freight Line from $213.00 to $232.00 in a research report on Thursday, April 28th. Morgan Stanley lifted their target price on shares of Old Dominion Freight Line from $335.00 to $337.00 and gave the stock an “equal weight” rating in a research note on Monday, April 4th. Raymond James dropped their price target on shares of Old Dominion Freight Line from $365.00 to $305.00 and set an “outperform” rating for the company in a research note on Wednesday, April 20th. Finally, Susquehanna Bancshares raised their price target on shares of Old Dominion Freight Line from $275.00 to $285.00 in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $299.17.

ODFL stock opened at $260.96 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $29.58 billion, a PE ratio of 26.66, a P/E/G ratio of 1.22 and a beta of 1.03. Old Dominion Freight Line, Inc. has a 12-month low of $231.31 and a 12-month high of $373.58. The business’s fifty day moving average price is $277.63 and its 200 day moving average price is $310.75.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last released its earnings results on Wednesday, April 27th. The transportation company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.23. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.46 billion. Old Dominion Freight Line had a return on equity of 32.41% and a net margin of 20.17%. Old Dominion Freight Line’s revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.70 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 11.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, May 31st. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 12.26%.

About Old Dominion Freight Line (Get Rating)

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

Further Reading

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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