Granite Investment Partners LLC Sells 231 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Granite Investment Partners LLC trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,939 shares of the transportation company’s stock after selling 231 shares during the period. Granite Investment Partners LLC’s holdings in Old Dominion Freight Line were worth $11,901,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ODFL. Goldman Sachs Group Inc. boosted its holdings in Old Dominion Freight Line by 117.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 761,387 shares of the transportation company’s stock valued at $195,129,000 after purchasing an additional 411,516 shares during the period. Renaissance Technologies LLC raised its position in shares of Old Dominion Freight Line by 39,577.3% during the 1st quarter. Renaissance Technologies LLC now owns 277,741 shares of the transportation company’s stock valued at $82,956,000 after buying an additional 277,041 shares in the last quarter. TD Asset Management Inc raised its position in shares of Old Dominion Freight Line by 169.4% during the 4th quarter. TD Asset Management Inc now owns 266,148 shares of the transportation company’s stock valued at $75,527,000 after buying an additional 167,362 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Old Dominion Freight Line by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,860,421 shares of the transportation company’s stock valued at $3,243,791,000 after buying an additional 113,806 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Old Dominion Freight Line by 76.3% in the 4th quarter. Victory Capital Management Inc. now owns 244,306 shares of the transportation company’s stock worth $69,329,000 after purchasing an additional 105,712 shares during the period. 73.08% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded up $5.59 during trading hours on Friday, hitting $315.78. The company’s stock had a trading volume of 311,683 shares, compared to its average volume of 759,671. The company has a 50 day moving average of $324.37 and a 200 day moving average of $319.84. The stock has a market cap of $34.63 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.31 and a beta of 1.07. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a 12-month low of $231.70 and a 12-month high of $381.81.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The transportation company reported $2.58 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.11). The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Old Dominion Freight Line had a net margin of 21.96% and a return on equity of 37.55%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the company earned $2.60 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 10.85 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Tuesday, June 6th. Old Dominion Freight Line’s dividend payout ratio is currently 13.16%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Old Dominion Freight Line from $340.00 to $339.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 4th. Raymond James decreased their price objective on shares of Old Dominion Freight Line from $390.00 to $350.00 in a research report on Thursday, April 27th. Wolfe Research boosted their price objective on shares of Old Dominion Freight Line from $291.00 to $326.00 and gave the company an “underperform” rating in a research report on Thursday, February 2nd. Citigroup boosted their price objective on shares of Old Dominion Freight Line from $275.00 to $380.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Finally, UBS Group boosted their price objective on shares of Old Dominion Freight Line from $284.00 to $388.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $333.89.

Insider Activity at Old Dominion Freight Line

In related news, SVP David J. Bates sold 1,208 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $344.71, for a total value of $416,409.68. Following the completion of the transaction, the senior vice president now directly owns 14,082 shares in the company, valued at approximately $4,854,206.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.40% of the company’s stock.

Old Dominion Freight Line Profile

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Old Dominion Freight Line, Inc engages in the provision of regional, inter-regional, and national less-than-truckload services through a single integrated, union-free organization. Its services include container drayage, truckload brokerage, and supply chain consulting. The company was founded by Earl Congdon Sr.