Aberdeen Group plc Trims Stake in Old Dominion Freight Line, Inc. $ODFL

Aberdeen Group plc lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,179 shares of the transportation company’s stock after selling 12,046 shares during the quarter. Aberdeen Group plc owned approximately 0.05% of Old Dominion Freight Line worth $14,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. Stephens Inc. AR grew its position in shares of Old Dominion Freight Line by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after buying an additional 67 shares during the period. YANKCOM Partnership boosted its stake in Old Dominion Freight Line by 9.1% during the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after acquiring an additional 68 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in Old Dominion Freight Line by 4.4% in the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after purchasing an additional 71 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Old Dominion Freight Line by 0.3% during the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 72 shares in the last quarter. Finally, STF Management LP lifted its holdings in shares of Old Dominion Freight Line by 2.4% during the second quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock valued at $532,000 after purchasing an additional 77 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ODFL shares. Stifel Nicolaus set a $217.00 price target on Old Dominion Freight Line in a research note on Thursday, February 5th. Wells Fargo & Company raised their price target on Old Dominion Freight Line from $138.00 to $165.00 and gave the company an “underweight” rating in a report on Thursday, February 5th. TD Cowen upped their price target on shares of Old Dominion Freight Line from $167.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Wolfe Research set a $138.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, January 8th. Finally, Barclays set a $185.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $189.88.

Old Dominion Freight Line Stock Performance

ODFL opened at $193.81 on Thursday. The company’s 50-day simple moving average is $173.61 and its two-hundred day simple moving average is $153.62. The stock has a market capitalization of $40.53 billion, a P/E ratio of 40.13, a P/E/G ratio of 9.64 and a beta of 1.28. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $208.74.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $1.23 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. Research 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 will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be paid a $0.29 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, March 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 23.19%.

About Old Dominion Freight Line

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.