Old Dominion Freight Line, Inc. $ODFL Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 89,035 shares of the transportation company’s stock after selling 7,718 shares during the quarter. Logan Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $14,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after buying an additional 1,018 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Old Dominion Freight Line by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock worth $1,507,000 after acquiring an additional 443 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Old Dominion Freight Line by 29.0% during the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock worth $395,000 after purchasing an additional 537 shares during the last quarter. Wilkinson Global Asset Management LLC lifted its position in Old Dominion Freight Line by 6.0% during the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock valued at $17,839,000 after purchasing an additional 6,133 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in Old Dominion Freight Line by 11.4% during the first quarter. Oppenheimer & Co. Inc. now owns 2,205 shares of the transportation company’s stock valued at $365,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.4%

Old Dominion Freight Line stock opened at $136.73 on Tuesday. The stock has a market capitalization of $28.74 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 12 month low of $133.69 and a 12 month high of $233.26. The business has a 50 day simple moving average of $144.15 and a 200-day simple moving average of $153.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (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 business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business earned $1.48 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a research note on Thursday, July 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Stifel Nicolaus lowered their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Truist Financial raised their price objective on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, Citigroup decreased their target price on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $161.90.

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.