Loomis Sayles & Co. L P cut its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,787 shares of the transportation company’s stock after selling 13,234 shares during the quarter. Loomis Sayles & Co. L P owned 0.13% of Old Dominion Freight Line worth $16,575,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Stratos Wealth Partners LTD. acquired a new position in Old Dominion Freight Line during the third quarter worth $120,000. Signaturefd LLC raised its holdings in Old Dominion Freight Line by 2,308.6% during the second quarter. Signaturefd LLC now owns 843 shares of the transportation company’s stock worth $126,000 after purchasing an additional 808 shares during the last quarter. Gradient Investments LLC acquired a new position in Old Dominion Freight Line during the third quarter worth $137,000. Harvest Fund Management Co. Ltd acquired a new position in Old Dominion Freight Line during the third quarter worth $142,000. Finally, Qube Research & Technologies Ltd acquired a new position in Old Dominion Freight Line during the second quarter worth $145,000. Hedge funds and other institutional investors own 72.55% of the company’s stock.
Several brokerages recently issued reports on ODFL. BidaskClub raised Old Dominion Freight Line from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Bank of America raised Old Dominion Freight Line from an “underperform” rating to a “buy” rating and set a $139.00 price objective for the company in a report on Tuesday, October 30th. Argus reduced their price objective on Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating for the company in a report on Monday, October 29th. Buckingham Research reduced their price objective on Old Dominion Freight Line from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, October 26th. Finally, Credit Suisse Group reduced their price objective on Old Dominion Freight Line from $159.00 to $149.00 and set an “outperform” rating for the company in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $146.25.
NASDAQ ODFL opened at $128.75 on Friday. Old Dominion Freight Line has a fifty-two week low of $118.73 and a fifty-two week high of $170.22. The firm has a market capitalization of $10.97 billion, a PE ratio of 20.46, a P/E/G ratio of 0.75 and a beta of 1.39. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, October 25th. The transportation company reported $2.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.15. Old Dominion Freight Line had a return on equity of 22.13% and a net margin of 16.47%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. As a group, research analysts predict that Old Dominion Freight Line will post 7.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, December 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 11.93%.
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Old Dominion Freight Line Company Profile
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.
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