Old Dominion Freight Line, Inc. $ODFL Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,817 shares of the transportation company’s stock after selling 37,813 shares during the quarter. SG Americas Securities LLC owned 0.08% of Old Dominion Freight Line worth $31,228,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Deseret Mutual Benefit Administrators lifted its stake in shares of Old Dominion Freight Line by 9.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 57 shares during the period. Verdence Capital Advisors LLC grew its position in Old Dominion Freight Line by 1.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after buying an additional 60 shares during the period. Diversified Trust Co. grew its position in Old Dominion Freight Line by 1.7% during the fourth quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after buying an additional 65 shares during the period. CNB Bank increased its holdings in Old Dominion Freight Line by 2.3% in the fourth quarter. CNB Bank now owns 3,127 shares of the transportation company’s stock valued at $490,000 after buying an additional 71 shares in the last quarter. Finally, Modera Wealth Management LLC increased its holdings in Old Dominion Freight Line by 2.7% in the fourth quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock valued at $434,000 after buying an additional 72 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wolfe Research boosted their price target on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 7th. UBS Group raised their price objective on Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Citigroup downgraded Old Dominion Freight Line from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $225.00 to $228.00 in a research report on Monday, June 15th. Finally, Stifel Nicolaus upped their target price on Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $218.13.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $217.58 on Wednesday. The stock has a fifty day moving average of $218.05 and a two-hundred day moving average of $194.12. The company has a market capitalization of $45.25 billion, a PE ratio of 45.52, a price-to-earnings-growth ratio of 4.41 and a beta of 1.17. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is 24.27%.

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.