Blue Trust Inc. Cuts Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Blue Trust Inc. trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 86.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241 shares of the transportation company's stock after selling 1,505 shares during the quarter. Blue Trust Inc.'s holdings in Old Dominion Freight Line were worth $43,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ODFL. Private Advisor Group LLC increased its position in Old Dominion Freight Line by 3.6% during the third quarter. Private Advisor Group LLC now owns 9,638 shares of the transportation company's stock valued at $1,914,000 after acquiring an additional 339 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Old Dominion Freight Line by 196.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 20,078 shares of the transportation company's stock valued at $3,988,000 after purchasing an additional 13,315 shares during the last quarter. Allworth Financial LP raised its position in Old Dominion Freight Line by 18.8% in the 3rd quarter. Allworth Financial LP now owns 1,427 shares of the transportation company's stock worth $283,000 after purchasing an additional 226 shares during the period. PFG Investments LLC bought a new stake in Old Dominion Freight Line in the third quarter worth about $381,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Old Dominion Freight Line during the third quarter valued at approximately $514,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Up 1.0 %

ODFL stock traded up $1.73 during trading on Friday, reaching $176.50. 2,123,312 shares of the company traded hands, compared to its average volume of 1,522,491. The business has a 50 day simple moving average of $187.56 and a 200 day simple moving average of $197.25. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $37.68 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase 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 0.63%. Old Dominion Freight Line's dividend payout ratio is presently 18.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ODFL shares. Susquehanna restated a "neutral" rating and issued a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Bank of America decreased their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Barclays lowered their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Finally, Evercore ISI raised their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an "in-line" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $203.72.

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.