Lombard Odier Asset Management USA Corp Sells 5,496 Shares of Old Dominion Freight Line, Inc. $ODFL

Lombard Odier Asset Management USA Corp decreased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 56.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,285 shares of the transportation company’s stock after selling 5,496 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Old Dominion Freight Line were worth $837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Old Dominion Freight Line by 14.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after acquiring an additional 1,761,511 shares during the period. State Street Corp raised its stake in Old Dominion Freight Line by 0.9% in the fourth quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock valued at $1,214,618,000 after buying an additional 70,736 shares during the period. Boston Partners raised its stake in Old Dominion Freight Line by 98.4% in the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock valued at $648,186,000 after buying an additional 2,044,434 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Old Dominion Freight Line by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock valued at $577,137,000 after buying an additional 365,424 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Old Dominion Freight Line by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,314,157 shares of the transportation company’s stock valued at $519,660,000 after buying an additional 639,769 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $232.99 on Friday. The business’s 50 day simple moving average is $225.49 and its 200 day simple moving average is $204.77. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The company has a market capitalization of $48.45 billion, a P/E ratio of 48.74, a P/E/G ratio of 4.21 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.56 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is presently 24.27%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent analyst reports. Evercore raised Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a report on Wednesday, July 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $241.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. Barclays lifted their price objective on shares of Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Finally, TD Cowen reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Ten equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $223.04.

About Old Dominion Freight Line

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.