Parallax Volatility Advisers L.P. lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 60.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,439 shares of the transportation company’s stock after selling 2,233 shares during the period. Parallax Volatility Advisers L.P.’s holdings in Old Dominion Freight Line were worth $137,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ODFL. World Asset Management Inc increased its stake in Old Dominion Freight Line by 10.3% in the 1st quarter. World Asset Management Inc now owns 4,641 shares of the transportation company’s stock worth $397,000 after buying an additional 432 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Old Dominion Freight Line by 14.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 43,125 shares of the transportation company’s stock worth $3,690,000 after buying an additional 5,351 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Old Dominion Freight Line in the 1st quarter worth $2,029,000. TD Asset Management Inc. increased its stake in Old Dominion Freight Line by 23.5% in the 1st quarter. TD Asset Management Inc. now owns 21,000 shares of the transportation company’s stock worth $1,797,000 after buying an additional 4,000 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Old Dominion Freight Line by 8.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 90,502 shares of the transportation company’s stock worth $7,744,000 after buying an additional 7,242 shares in the last quarter. Institutional investors and hedge funds own 73.84% of the company’s stock.

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ODFL has been the subject of a number of analyst reports. Credit Suisse Group reiterated an “outperform” rating and issued a $109.00 price target (up previously from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their price target for the stock from $108.00 to $98.00 in a research note on Monday, July 31st. BidaskClub upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Tuesday, July 11th. Finally, Buckingham Research initiated coverage on Old Dominion Freight Line in a research note on Monday, August 21st. They issued a “neutral” rating and a $105.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $99.20.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) traded down 0.11% on Thursday, hitting $108.72. 36,965 shares of the company’s stock traded hands. The stock has a market cap of $8.96 billion, a PE ratio of 28.16 and a beta of 1.07. Old Dominion Freight Line, Inc. has a one year low of $66.33 and a one year high of $108.93. The stock has a 50-day moving average of $97.80 and a 200-day moving average of $91.97.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. The business had revenue of $839.90 million during the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post $4.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.37%. Old Dominion Freight Line’s payout ratio is presently 10.39%.

In related news, Vice Chairman David S. Congdon sold 575 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total transaction of $56,252.25. Following the transaction, the insider now directly owns 9,516 shares in the company, valued at $930,950.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.00% of the company’s stock.

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

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