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

Summitry LLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 185,279 shares of the transportation company’s stock after selling 23,861 shares during the period. Old Dominion Freight Line comprises about 1.6% of Summitry LLC’s portfolio, making the stock its 25th largest holding. Summitry LLC owned 0.09% of Old Dominion Freight Line worth $32,683,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ODFL. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line during the fourth quarter valued at $35,000. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $41,000. 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. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line in the 4th quarter worth about $51,000. Finally, Brown Brothers Harriman & Co. boosted its position in 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 purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.4 %

Shares of ODFL opened at $167.60 on Wednesday. The company’s 50-day moving average price is $183.88 and its 200 day moving average price is $194.05. Old Dominion Freight Line, Inc. has a 12-month low of $157.67 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $35.62 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 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, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Bank of America reduced their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Evercore ISI lifted their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. 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, Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $193.00 to $200.00 in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $202.65.

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.