Central Bank & Trust Co. Sells 791 Shares of Old Dominion Freight Line, Inc. $ODFL

Central Bank & Trust Co. lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,696 shares of the transportation company’s stock after selling 791 shares during the period. Central Bank & Trust Co.’s holdings in Old Dominion Freight Line were worth $2,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ODFL. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 79.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock valued at $430,006,000 after purchasing an additional 1,151,221 shares during the last quarter. Nuveen LLC bought a new position in shares of Old Dominion Freight Line during the 1st quarter valued at about $151,107,000. JPMorgan Chase & Co. boosted its holdings in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after purchasing an additional 754,796 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Old Dominion Freight Line by 24,499.9% during the 1st quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company’s stock valued at $85,105,000 after purchasing an additional 512,293 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after purchasing an additional 416,097 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. Finally, The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and upped their target price for the company from $190.00 to $200.00 in a research report on Monday, June 2nd. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $167.14.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $145.25 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a 1-year low of $140.71 and a 1-year high of $233.26. The firm has a market capitalization of $30.53 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 3.37 and a beta of 1.23. The company’s 50-day moving average is $154.46 and its 200 day moving average is $159.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.48 earnings per share. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 21.88%.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.