Massmutual Trust Co. FSB ADV trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 33.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,444 shares of the transportation company’s stock after selling 1,203 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Old Dominion Freight Line were worth $833,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Canada Pension Plan Investment Board grew its stake in Old Dominion Freight Line by 1,078.6% during the third quarter. Canada Pension Plan Investment Board now owns 41,804 shares of the transportation company’s stock worth $10,400,000 after buying an additional 38,257 shares during the period. Allstate Investment Management Co. purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $1,213,000. Lincoln National Corp grew its stake in Old Dominion Freight Line by 15.5% during the fourth quarter. Lincoln National Corp now owns 939 shares of the transportation company’s stock worth $267,000 after buying an additional 126 shares during the period. Arizona State Retirement System grew its stake in Old Dominion Freight Line by 1.7% during the fourth quarter. Arizona State Retirement System now owns 26,892 shares of the transportation company’s stock worth $7,631,000 after buying an additional 437 shares during the period. Finally, Natixis Advisors L.P. grew its stake in Old Dominion Freight Line by 12.9% during the fourth quarter. Natixis Advisors L.P. now owns 181,024 shares of the transportation company’s stock worth $51,371,000 after buying an additional 20,706 shares during the period. 72.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on ODFL. Credit Suisse Group decreased their price objective on shares of Old Dominion Freight Line from $322.00 to $306.00 in a research note on Thursday, April 27th. 888 reissued a “maintains” rating on shares of Old Dominion Freight Line in a research report on Thursday, April 27th. Deutsche Bank Aktiengesellschaft raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their target price for the stock from $301.00 to $350.00 in a research report on Friday, April 28th. Susquehanna reduced their target price on shares of Old Dominion Freight Line from $326.00 to $310.00 in a research report on Thursday, April 27th. Finally, Evercore ISI raised shares of Old Dominion Freight Line from an “in-line” rating to an “outperform” rating and set a $350.00 target price on the stock in a research report on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $334.55.
Old Dominion Freight Line Stock Up 1.9 %
Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last released its earnings results on Wednesday, April 26th. The transportation company reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.11). Old Dominion Freight Line had a net margin of 21.96% and a return on equity of 37.55%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. Research analysts predict that Old Dominion Freight Line, Inc. will post 10.8 EPS for the current year.
Old Dominion Freight Line Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Old Dominion Freight Line’s dividend payout ratio is currently 13.16%.
Old Dominion Freight Line Profile
Old Dominion Freight Line, Inc engages in the provision of regional, inter-regional, and national less-than-truckload services through a single integrated, union-free organization. Its services include container drayage, truckload brokerage, and supply chain consulting. The company was founded by Earl Congdon Sr.
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