Old Dominion Freight Line, Inc. $ODFL Shares Sold by Swedbank AB

Swedbank AB decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,036 shares of the transportation company’s stock after selling 3,848 shares during the quarter. Swedbank AB’s holdings in Old Dominion Freight Line were worth $10,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Financial Gravity Companies Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at about $26,000. Rossby Financial LCC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at approximately $28,000. Chilton Capital Management LLC acquired a new position in Old Dominion Freight Line in the second quarter valued at approximately $47,000. WPG Advisers LLC acquired a new position in Old Dominion Freight Line in the first quarter valued at approximately $51,000. Finally, Flaharty Asset Management LLC purchased a new position in Old Dominion Freight Line in the first quarter worth approximately $59,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

ODFL has been the topic of a number of research analyst reports. UBS Group lifted their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Morgan Stanley upgraded shares of Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $165.00 to $190.00 in a report on Monday, December 8th. Stifel Nicolaus set a $173.00 target price on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group reduced their price target on shares of Old Dominion Freight Line from $186.00 to $181.00 in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $155.58.

Old Dominion Freight Line Stock Up 0.1%

Shares of NASDAQ:ODFL opened at $159.49 on Friday. The firm has a market capitalization of $33.35 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 8.45 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $209.61. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50-day moving average is $143.63 and its two-hundred day moving average is $149.30.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio is currently 22.54%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.