Comerica Bank cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,465 shares of the transportation company’s stock after selling 644 shares during the quarter. Comerica Bank owned about 0.07% of Old Dominion Freight Line worth $6,569,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ODFL. Janus Henderson Group PLC acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth $266,855,000. William Blair Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 7.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock worth $250,063,000 after purchasing an additional 191,911 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 8.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock worth $199,998,000 after purchasing an additional 157,362 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Old Dominion Freight Line by 8.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock worth $183,182,000 after purchasing an additional 151,407 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Old Dominion Freight Line by 229.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 167,617 shares of the transportation company’s stock worth $15,965,000 after purchasing an additional 116,777 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) opened at $118.97 on Monday. Old Dominion Freight Line, Inc. has a 1 year low of $80.56 and a 1 year high of $124.13. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.02. The company has a market cap of $9,800.00, a PE ratio of 29.30, a P/E/G ratio of 1.74 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.16 by $0.08. The business had revenue of $872.99 million for the quarter, compared to analyst estimates of $855.85 million. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. analysts anticipate that Old Dominion Freight Line, Inc. will post 4.28 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.34%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 9.85%.

A number of equities analysts have recently weighed in on ODFL shares. BidaskClub cut shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research note on Tuesday, October 3rd. KeyCorp reaffirmed a “buy” rating and set a $115.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and set a $113.00 price target on shares of Old Dominion Freight Line in a research note on Friday, October 6th. Finally, Deutsche Bank AG cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price target for the stock from $108.00 to $98.00 in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $108.23.

About Old Dominion Freight Line

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.

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

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