Picton Mahoney Asset Management Sells 10,566 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Picton Mahoney Asset Management reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 25.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,591 shares of the transportation company's stock after selling 10,566 shares during the period. Picton Mahoney Asset Management's holdings in Old Dominion Freight Line were worth $5,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sigma Planning Corp purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $244,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $271,000. Huntington National Bank lifted its stake in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Huntington National Bank now owns 911 shares of the transportation company's stock valued at $181,000 after buying an additional 155 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of Old Dominion Freight Line by 5.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,155 shares of the transportation company's stock valued at $2,216,000 after buying an additional 548 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in Old Dominion Freight Line by 6.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,510 shares of the transportation company's stock worth $1,095,000 after purchasing an additional 352 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Evercore ISI increased their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. Susquehanna reiterated a "neutral" rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and an average target price of $202.65.

Old Dominion Freight Line Trading Down 0.8 %

Old Dominion Freight Line stock traded down $1.31 during trading hours on Thursday, reaching $161.13. The stock had a trading volume of 1,585,684 shares, compared to its average volume of 1,554,159. The stock has a market cap of $34.25 billion, a PE ratio of 29.40, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a 52 week low of $159.11 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a fifty day simple moving average of $185.00 and a 200-day simple moving average of $194.72.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.98%.

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.