Voya Investment Management LLC Lowers Holdings in Old Dominion Freight Line, Inc. $ODFL

Voya Investment Management LLC lowered its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 31.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,414 shares of the transportation company’s stock after selling 18,151 shares during the quarter. Voya Investment Management LLC’s holdings in Old Dominion Freight Line were worth $5,689,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares in the last quarter. Compound Planning Inc. acquired a new position in Old Dominion Freight Line during the 1st quarter worth approximately $229,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Old Dominion Freight Line by 6.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,699 shares of the transportation company’s stock worth $447,000 after buying an additional 173 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Old Dominion Freight Line by 21.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,397 shares of the transportation company’s stock worth $230,000 after buying an additional 247 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Old Dominion Freight Line by 2.1% in the first quarter. Rafferty Asset Management LLC now owns 93,798 shares of the transportation company’s stock valued at $15,519,000 after buying an additional 1,895 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.7%

Shares of NASDAQ ODFL opened at $157.50 on Thursday. The stock’s 50 day moving average price is $142.82 and its two-hundred day moving average price is $149.39. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $209.61. The stock has a market capitalization of $32.93 billion, a P/E ratio of 31.69, a PEG ratio of 8.41 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business earned $1.43 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.54%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ODFL shares. BMO Capital Markets upgraded Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $172.00 to $170.00 in a research report on Monday, December 1st. Citigroup reaffirmed a “buy” rating and issued a $170.00 price target (up previously from $168.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 3rd. Barclays lowered their target price on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Zacks Research upgraded shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. dropped their target price on Old Dominion Freight Line from $144.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $155.58.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.