Advisor Resource Council Cuts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Advisor Resource Council lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 53.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 849 shares of the transportation company’s stock after selling 991 shares during the quarter. Advisor Resource Council’s holdings in Old Dominion Freight Line were worth $186,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ODFL. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the third quarter worth approximately $4,016,000. Advisors Asset Management Inc. raised its position in Old Dominion Freight Line by 16.7% in the third quarter. Advisors Asset Management Inc. now owns 9,098 shares of the transportation company’s stock worth $3,722,000 after acquiring an additional 1,302 shares in the last quarter. Evergreen Capital Management LLC raised its position in Old Dominion Freight Line by 13.0% in the third quarter. Evergreen Capital Management LLC now owns 1,113 shares of the transportation company’s stock worth $455,000 after acquiring an additional 128 shares in the last quarter. Lido Advisors LLC raised its position in Old Dominion Freight Line by 3.1% in the third quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock worth $397,000 after acquiring an additional 29 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Old Dominion Freight Line by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of ODFL traded down $0.30 during trading hours on Thursday, reaching $181.87. 919,779 shares of the company traded hands, compared to its average volume of 1,703,654. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $39.52 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.37 and a beta of 1.00. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The stock has a fifty day simple moving average of $177.46 and a 200 day simple moving average of $199.82.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research analyst reports. TD Cowen cut their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective for the company in a research report on Wednesday, May 8th. Bank of America cut their price objective on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a research report on Thursday, June 6th. Finally, Evercore ISI reissued an “in-line” rating and issued a $196.00 target price (down previously from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $201.18.

About Old Dominion Freight Line

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.