Thomas White International Ltd. cut its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,649 shares of the transportation company’s stock after selling 451 shares during the period. Thomas White International Ltd.’s holdings in Old Dominion Freight Line were worth $1,425,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ODFL. American International Group Inc. raised its stake in shares of Old Dominion Freight Line by 3.7% in the first quarter. American International Group Inc. now owns 138,269 shares of the transportation company’s stock worth $11,832,000 after buying an additional 4,940 shares during the last quarter. Arizona State Retirement System raised its position in Old Dominion Freight Line by 7.7% in the first quarter. Arizona State Retirement System now owns 28,800 shares of the transportation company’s stock valued at $2,464,000 after buying an additional 2,069 shares during the last quarter. Pier Capital LLC raised its position in Old Dominion Freight Line by 0.6% in the first quarter. Pier Capital LLC now owns 5,959 shares of the transportation company’s stock valued at $510,000 after buying an additional 34 shares during the last quarter. Clinton Group Inc. bought a new position in Old Dominion Freight Line during the first quarter valued at about $1,591,000. Finally, SG Americas Securities LLC raised its position in Old Dominion Freight Line by 136.9% in the first quarter. SG Americas Securities LLC now owns 17,680 shares of the transportation company’s stock valued at $1,513,000 after buying an additional 10,216 shares during the last quarter. Hedge funds and other institutional investors own 74.95% of the company’s stock.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

Old Dominion Freight Line, Inc. (NASDAQ ODFL) traded up 0.51% during midday trading on Friday, reaching $94.70. The company’s stock had a trading volume of 701,498 shares. Old Dominion Freight Line, Inc. has a 52-week low of $56.74 and a 52-week high of $96.46. The firm has a market cap of $7.81 billion, a P/E ratio of 26.00 and a beta of 1.05. The firm has a 50 day moving average of $88.96 and a 200 day moving average of $88.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, April 27th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. The business had revenue of $754.10 million for the quarter, compared to analyst estimates of $751.84 million. Old Dominion Freight Line had a return on equity of 16.52% and a net margin of 9.92%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Analysts anticipate that Old Dominion Freight Line, Inc. will post $3.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.40 annualized dividend and a yield of 0.42%. Old Dominion Freight Line’s payout ratio is currently 10.99%.

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ODFL has been the subject of several analyst reports. Zacks Investment Research lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Wednesday, March 15th. Vertical Research restated a “hold” rating and set a $83.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 13th. Credit Suisse Group restated an “outperform” rating and set a $96.00 target price (up from $92.00) on shares of Old Dominion Freight Line in a research report on Monday, March 6th. Cowen and Company lifted their price objective on Old Dominion Freight Line from $88.00 to $92.00 and gave the company a “market perform” rating in a report on Thursday, April 27th. Finally, Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $83.00 to $96.00 in a report on Tuesday, June 6th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Old Dominion Freight Line has an average rating of “Buy” and an average price target of $94.63.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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