Gladstone Institutional Advisory LLC Sells 3,253 Shares of Old Dominion Freight Line, Inc. $ODFL

Gladstone Institutional Advisory LLC lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 35.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,896 shares of the transportation company’s stock after selling 3,253 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Old Dominion Freight Line were worth $830,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. Financial Gravity Companies Inc. bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $26,000. Rossby Financial LCC bought a new stake in Old Dominion Freight Line during the second quarter worth about $28,000. Chilton Capital Management LLC acquired a new stake in Old Dominion Freight Line during the second quarter worth about $47,000. Flaharty Asset Management LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth about $59,000. Finally, Blue Trust Inc. increased its holdings in Old Dominion Freight Line by 65.5% in the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock valued at $67,000 after buying an additional 163 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 3.2%

NASDAQ ODFL opened at $171.07 on Friday. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 34.42, a price-to-earnings-growth ratio of 8.02 and a beta of 1.27. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $209.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average is $147.97 and its 200 day moving average is $149.60.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ODFL. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Evercore ISI cut their target price on Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Rothschild & Co Redburn initiated coverage on Old Dominion Freight Line in a research note on Wednesday, November 26th. They issued a “sell” rating and a $114.00 price target on the stock. Morgan Stanley raised Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $165.00 to $190.00 in a report on Monday, December 8th. Finally, TD Cowen reduced their price objective on Old Dominion Freight Line from $159.00 to $154.00 in a research note on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.46.

Old Dominion Freight Line Profile

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.