Mutual of America Capital Management LLC Reduces Stock Position in Old Dominion Freight Line, Inc. $ODFL

Mutual of America Capital Management LLC decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,053 shares of the transportation company’s stock after selling 4,235 shares during the period. Mutual of America Capital Management LLC’s holdings in Old Dominion Freight Line were worth $2,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Financial Gravity Companies Inc. purchased a new position in Old Dominion Freight Line in the 2nd quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after acquiring an additional 123 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Old Dominion Freight Line during the second quarter worth approximately $28,000. Chilton Capital Management LLC bought a new stake in shares of Old Dominion Freight Line during the second quarter valued at approximately $47,000. Finally, Blue Trust Inc. boosted its holdings in shares of Old Dominion Freight Line by 65.5% in the second quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 163 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL opened at $173.20 on Friday. The firm has a market capitalization of $36.22 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 8.58 and a beta of 1.27. 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 business’s 50-day moving average is $160.35 and its two-hundred day moving average is $150.45. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results 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 business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $1.43 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ODFL. Susquehanna restated a “neutral” rating and set a $170.00 price objective on shares of Old Dominion Freight Line in a report on Monday, January 5th. Robert W. Baird set a $170.00 price target on Old Dominion Freight Line in a research note on Monday, January 5th. Zacks Research downgraded Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Finally, The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $181.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Ten analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $163.33.

Old Dominion Freight Line 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.