Old Dominion Freight Line, Inc. $ODFL Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.6% in the second quarter, HoldingsChannel.com reports. The fund owned 107,163 shares of the transportation company’s stock after selling 10,142 shares during the period. Handelsbanken Fonder AB’s holdings in Old Dominion Freight Line were worth $23,212,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC boosted its stake in shares of Old Dominion Freight Line by 9.9% in the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 46 shares during the period. Private Advisor Group LLC increased its stake in Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after buying an additional 55 shares during the period. Keybank National Association OH increased its stake in Old Dominion Freight Line by 2.3% during the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after buying an additional 56 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in Old Dominion Freight Line by 9.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after buying an additional 57 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after buying an additional 60 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $212.55 on Thursday. The stock has a 50-day simple moving average of $225.22 and a 200-day simple moving average of $208.97. The stock has a market cap of $44.07 billion, a P/E ratio of 40.95, a P/E/G ratio of 3.64 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.14. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $1.27 EPS. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is currently 22.35%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Stephens reissued an “overweight” rating and set a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Morgan Stanley restated an “equal weight” rating and set a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Finally, UBS Group reiterated a “neutral” rating and issued a $228.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $226.55.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.