Summitry LLC Cuts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Summitry LLC lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 185,279 shares of the transportation company’s stock after selling 23,861 shares during the quarter. Old Dominion Freight Line comprises approximately 1.6% of Summitry LLC’s investment portfolio, making the stock its 25th largest holding. Summitry LLC’s holdings in Old Dominion Freight Line were worth $32,683,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at $35,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $45,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $41,000. Brown Brothers Harriman & Co. grew its position in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.4 %

Old Dominion Freight Line stock opened at $167.60 on Wednesday. The stock has a 50 day moving average of $183.88 and a two-hundred day moving average of $194.05. Old Dominion Freight Line, Inc. has a twelve month low of $157.67 and a twelve month high of $233.26. The stock has a market capitalization of $35.62 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 2.89 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s payout ratio is 18.98%.

Wall Street Analyst Weigh In

Several research firms have commented on ODFL. Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Truist Financial began coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 target price for the company. Barclays cut their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group lifted their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group increased their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $202.65.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.