Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC reduced its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,823 shares of the transportation company’s stock after selling 454 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $3,445,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ODFL. American National Bank & Trust acquired a new stake in Old Dominion Freight Line during the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. raised its stake in shares of Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 192 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $51,000. Finally, CoreCap Advisors LLC grew its stake in Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock worth $60,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the topic of a number of analyst reports. Bank of America increased their price target on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Stifel Nicolaus decreased their price target on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $200.00 in a report on Monday, June 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective on the stock. Finally, Raymond James set a $185.00 target price on shares of Old Dominion Freight Line and gave the stock an “outperform” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $180.42.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $167.89 on Wednesday. The company’s 50 day simple moving average is $158.88 and its 200-day simple moving average is $177.19. The firm has a market cap of $35.48 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.27. 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 current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $1.34 EPS. Old Dominion Freight Line’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line’s dividend payout ratio is presently 21.01%.

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.