Old Dominion Freight Line, Inc. $ODFL Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 351,607 shares of the transportation company’s stock after selling 10,315 shares during the quarter. Rhumbline Advisers owned about 0.17% of Old Dominion Freight Line worth $49,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ODFL. Financial Gravity Companies Inc. acquired a new stake in Old Dominion Freight Line in the second quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after acquiring an additional 123 shares in the last quarter. Westside Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after acquiring an additional 98 shares in the last quarter. Rossby Financial LCC purchased a new stake in Old Dominion Freight Line during the second quarter worth approximately $28,000. Finally, Chilton Capital Management LLC acquired a new position in Old Dominion Freight Line in the second quarter valued at approximately $47,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 4.2%

ODFL stock opened at $193.21 on Friday. The company has a market capitalization of $40.40 billion, a P/E ratio of 40.00, a PEG ratio of 9.26 and a beta of 1.28. The company has a 50-day simple moving average of $171.16 and a 200 day simple moving average of $152.69. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the firm earned $1.23 EPS. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, March 4th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio is presently 24.02%.

Wall Street Analysts Forecast Growth

ODFL has been the topic of a number of research reports. UBS Group reissued a “neutral” rating and set a $202.00 price target (up previously from $164.00) on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Stifel Nicolaus set a $217.00 target price on Old Dominion Freight Line in a research note on Thursday, February 5th. The Goldman Sachs Group restated a “buy” rating and set a $195.00 price target on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, December 3rd. Finally, Bank of America set a $165.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, December 18th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $189.88.

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.