Arrowstreet Capital Limited Partnership Sells 201,422 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Arrowstreet Capital Limited Partnership lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 73.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,593 shares of the transportation company's stock after selling 201,422 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Old Dominion Freight Line were worth $13,158,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Public Sector Pension Investment Board grew its holdings in Old Dominion Freight Line by 62.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 7,266 shares of the transportation company's stock valued at $1,443,000 after purchasing an additional 2,800 shares in the last quarter. Captrust Financial Advisors grew its holdings in Old Dominion Freight Line by 1.7% during the 3rd quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company's stock worth $1,490,000 after acquiring an additional 124 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in Old Dominion Freight Line by 1,448.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,230 shares of the transportation company's stock worth $443,000 after acquiring an additional 2,086 shares in the last quarter. Hilltop Holdings Inc. acquired a new position in Old Dominion Freight Line during the 3rd quarter worth $458,000. Finally, Janus Henderson Group PLC grew its holdings in Old Dominion Freight Line by 4.2% during the 3rd quarter. Janus Henderson Group PLC now owns 22,671 shares of the transportation company's stock worth $4,505,000 after acquiring an additional 917 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

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Old Dominion Freight Line Stock Down 4.9 %

ODFL stock traded down $8.16 during trading hours on Thursday, hitting $157.33. The company's stock had a trading volume of 359,007 shares, compared to its average volume of 1,659,511. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $33.44 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 12 month low of $145.79 and a 12 month high of $233.26. The stock has a 50 day moving average price of $176.54 and a two-hundred day moving average price of $191.09.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted 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, equities 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.

Wall Street Analysts Forecast Growth

ODFL has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Evercore ISI lifted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a report on Thursday, February 6th. Jefferies Financial Group decreased their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Finally, Stephens reiterated an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $195.75.

Old Dominion Freight Line 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.