Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,238 shares of the transportation company’s stock after selling 298 shares during the period. Transcend Capital Advisors LLC’s holdings in Old Dominion Freight Line were worth $395,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its holdings in shares of Old Dominion Freight Line by 3.6% in the 3rd quarter. Private Advisor Group LLC now owns 9,638 shares of the transportation company’s stock valued at $1,914,000 after buying an additional 339 shares during the period. Brighton Jones LLC boosted its holdings in shares of Old Dominion Freight Line by 5.0% in the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock valued at $294,000 after buying an additional 71 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Old Dominion Freight Line by 196.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 20,078 shares of the transportation company’s stock valued at $3,988,000 after buying an additional 13,315 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of Old Dominion Freight Line by 6.7% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,040 shares of the transportation company’s stock valued at $405,000 after buying an additional 128 shares during the period. Finally, Mediolanum International Funds Ltd boosted its holdings in shares of Old Dominion Freight Line by 5.2% in the 3rd quarter. Mediolanum International Funds Ltd now owns 16,531 shares of the transportation company’s stock valued at $3,246,000 after buying an additional 814 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODFL has been the subject of several research reports. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Citigroup lifted their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Stock Down 8.5 %

ODFL stock opened at $180.40 on Monday. The firm’s 50-day moving average is $188.96 and its two-hundred day moving average is $197.84. The company has a market capitalization of $38.52 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. 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, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

About Old Dominion Freight Line

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.