Fmr LLC Lowers Holdings in Old Dominion Freight Line (NASDAQ:ODFL)

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FMR LLC decreased its holdings in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 20.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 518,645 shares of the transportation company’s stock after selling 134,384 shares during the quarter. FMR LLC owned approximately 0.63% of Old Dominion Freight Line worth $77,258,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Financial Counselors Inc. lifted its stake in Old Dominion Freight Line by 4.1% in the second quarter. Financial Counselors Inc. now owns 9,293 shares of the transportation company’s stock valued at $1,384,000 after buying an additional 363 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Old Dominion Freight Line by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 70,677 shares of the transportation company’s stock valued at $10,528,000 after buying an additional 370 shares during the last quarter. Alps Advisors Inc. lifted its stake in Old Dominion Freight Line by 5.0% in the second quarter. Alps Advisors Inc. now owns 8,050 shares of the transportation company’s stock valued at $1,199,000 after buying an additional 381 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Old Dominion Freight Line by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the transportation company’s stock valued at $2,741,000 after buying an additional 400 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Old Dominion Freight Line by 19.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,625 shares of the transportation company’s stock valued at $386,000 after buying an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 72.45% of the company’s stock.

ODFL has been the topic of a number of recent research reports. BidaskClub raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Friday, August 17th. KeyCorp boosted their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, July 2nd. Morgan Stanley boosted their target price on Old Dominion Freight Line from $154.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Bank of America boosted their target price on Old Dominion Freight Line from $139.00 to $143.00 and gave the company an “underperform” rating in a report on Thursday, August 30th. Finally, ValuEngine raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $146.92.

ODFL stock traded up $0.26 on Friday, reaching $136.57. 740,653 shares of the company’s stock were exchanged, compared to its average volume of 612,473. Old Dominion Freight Line has a twelve month low of $106.20 and a twelve month high of $170.22. The firm has a market capitalization of $13.22 billion, a PE ratio of 31.32, a P/E/G ratio of 0.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.17. Old Dominion Freight Line had a return on equity of 20.31% and a net margin of 15.37%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 23.1% on a year-over-year basis. Equities research analysts expect that Old Dominion Freight Line will post 6.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Thursday, September 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Wednesday, September 5th. Old Dominion Freight Line’s dividend payout ratio is presently 11.93%.

Old Dominion Freight Line Company Profile

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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