ProShare Advisors LLC trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,170 shares of the transportation company’s stock after selling 1,056 shares during the period. ProShare Advisors LLC’s holdings in Old Dominion Freight Line were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. M&T Bank Corp boosted its position in Old Dominion Freight Line by 0.3% in the 1st quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock valued at $453,000 after buying an additional 14 shares during the period. Capstone Asset Management Co. boosted its position in Old Dominion Freight Line by 1.9% in the 2nd quarter. Capstone Asset Management Co. now owns 7,453 shares of the transportation company’s stock valued at $710,000 after buying an additional 140 shares during the period. First Quadrant L P CA boosted its position in Old Dominion Freight Line by 0.4% in the 2nd quarter. First Quadrant L P CA now owns 33,490 shares of the transportation company’s stock valued at $3,190,000 after buying an additional 140 shares during the period. Atria Investments LLC boosted its position in Old Dominion Freight Line by 5.5% in the 2nd quarter. Atria Investments LLC now owns 2,925 shares of the transportation company’s stock valued at $279,000 after buying an additional 153 shares during the period. Finally, Aperio Group LLC boosted its position in Old Dominion Freight Line by 0.7% in the 2nd quarter. Aperio Group LLC now owns 23,868 shares of the transportation company’s stock valued at $2,273,000 after buying an additional 157 shares during the period. 73.84% of the stock is owned by institutional investors.

In related news, Vice Chairman David S. Congdon sold 575 shares of Old Dominion Freight Line stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total value of $56,252.25. Following the completion of the transaction, the insider now owns 9,516 shares in the company, valued at $930,950.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.00% of the company’s stock.

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Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) opened at 107.99 on Friday. The stock has a market cap of $8.90 billion, a PE ratio of 27.97 and a beta of 1.09. The stock has a 50 day moving average of $101.73 and a 200 day moving average of $93.52. Old Dominion Freight Line, Inc. has a 12 month low of $68.82 and a 12 month high of $110.45.

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

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

Several research firms have issued reports on ODFL. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of Old Dominion Freight Line from $87.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday. BidaskClub raised shares of Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Stifel Nicolaus reissued a “hold” rating and issued a $91.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, July 14th. Finally, Cowen and Company reissued a “hold” rating and issued a $100.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $99.64.

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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