Central Bank & Trust Co. Lowers Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Central Bank & Trust Co. lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,487 shares of the transportation company’s stock after selling 1,723 shares during the period. Central Bank & Trust Co.’s holdings in Old Dominion Freight Line were worth $2,397,000 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. Norges Bank purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $494,916,000. T. Rowe Price Investment Management Inc. increased its stake in shares of Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock worth $255,390,000 after acquiring an additional 1,361,397 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Raymond James Financial Inc. acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $114,449,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of Old Dominion Freight Line by 92.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company’s stock worth $210,856,000 after acquiring an additional 573,586 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.4%

Old Dominion Freight Line stock opened at $160.33 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $158.79 and a two-hundred day moving average price of $177.95. The firm has a market capitalization of $33.88 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 2.89 and a beta of 1.26. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm earned $1.34 EPS. Old Dominion Freight Line’s revenue was down 5.8% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. Old Dominion Freight Line’s payout ratio is currently 21.01%.

Analysts Set New Price Targets

Several research analysts have weighed in on ODFL shares. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. UBS Group reduced their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating on the stock in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They set a “buy” rating and a $236.00 price target on the stock. Finally, Raymond James set a $185.00 price objective on shares of Old Dominion Freight Line and gave the stock an “outperform” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $180.42.

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.