Alpha Omega Wealth Management LLC Trims Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Alpha Omega Wealth Management LLC decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 90.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,880 shares of the transportation company's stock after selling 216,472 shares during the quarter. Alpha Omega Wealth Management LLC's holdings in Old Dominion Freight Line were worth $5,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Old Dominion Freight Line by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company's stock valued at $2,563,843,000 after purchasing an additional 81,122 shares during the period. JPMorgan Chase & Co. lifted its position in Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company's stock valued at $1,038,597,000 after purchasing an additional 251,289 shares during the period. CIBC Private Wealth Group LLC lifted its position in Old Dominion Freight Line by 0.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company's stock valued at $851,971,000 after purchasing an additional 12,016 shares during the period. Norges Bank bought a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $495,387,000. Finally, Morgan Stanley raised its position in Old Dominion Freight Line by 7.7% in the third quarter. Morgan Stanley now owns 961,518 shares of the transportation company's stock worth $393,397,000 after acquiring an additional 68,960 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock traded up $2.23 on Friday, reaching $176.60. 3,118,740 shares of the stock were exchanged, compared to its average volume of 1,731,722. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $179.13 and a two-hundred day moving average price of $200.14. The firm has a market capitalization of $38.37 billion, a PE ratio of 31.09, a PEG ratio of 2.30 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.31%.

Analyst Ratings Changes

Several research firms have weighed in on ODFL. Evercore ISI reiterated an "in-line" rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. UBS Group raised their target price on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, April 25th. Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, June 12th. Robert W. Baird raised shares of Old Dominion Freight Line from a "neutral" rating to an "outperform" rating and set a $205.00 price objective for the company in a research note on Wednesday, May 8th. Finally, Baird R W raised shares of Old Dominion Freight Line from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $201.18.

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.