Lapides Asset Management LLC cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 26.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,325 shares of the transportation company’s stock after selling 22,000 shares during the period. Old Dominion Freight Line comprises about 1.4% of Lapides Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. Lapides Asset Management LLC owned approximately 0.07% of Old Dominion Freight Line worth $6,642,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC bought a new position in shares of Old Dominion Freight Line during the second quarter worth about $266,855,000. William Blair Investment Management LLC lifted its position in shares of Old Dominion Freight Line by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock worth $250,063,000 after purchasing an additional 191,911 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Old Dominion Freight Line by 8.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock worth $199,998,000 after purchasing an additional 157,362 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Old Dominion Freight Line by 8.5% during the second quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock worth $183,182,000 after purchasing an additional 151,407 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Old Dominion Freight Line by 229.7% during the second quarter. Russell Investments Group Ltd. now owns 167,617 shares of the transportation company’s stock worth $15,965,000 after purchasing an additional 116,777 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) traded up $0.79 during trading on Wednesday, reaching $119.03. 745,100 shares of the company’s stock traded hands, compared to its average volume of 457,034. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $9,740.13, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 12-month low of $80.56 and a 12-month high of $124.13.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.08. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The firm had revenue of $872.99 million for the quarter, compared to analyst estimates of $855.85 million. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. analysts predict that Old Dominion Freight Line, Inc. will post 4.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Tuesday, December 5th. Old Dominion Freight Line’s dividend payout ratio is 9.85%.

ODFL has been the topic of several research analyst reports. BidaskClub cut shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Deutsche Bank AG lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the company from $108.00 to $98.00 in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Buckingham Research assumed coverage on shares of Old Dominion Freight Line in a research note on Monday, August 21st. They issued a “neutral” rating and a $105.00 price target on the stock. Finally, Cowen and Company restated a “hold” rating and issued a $100.00 price target on shares of Old Dominion Freight Line in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $108.23.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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