Gladstone Institutional Advisory LLC Sells 3,253 Shares of Old Dominion Freight Line, Inc. $ODFL

Gladstone Institutional Advisory LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 35.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,896 shares of the transportation company’s stock after selling 3,253 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Old Dominion Freight Line were worth $830,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares during the period. Ascent Group LLC increased its stake in shares of Old Dominion Freight Line by 79.3% in the first quarter. Ascent Group LLC now owns 2,680 shares of the transportation company’s stock valued at $443,000 after buying an additional 1,185 shares during the period. Empowered Funds LLC raised its position in shares of Old Dominion Freight Line by 134.9% during the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after acquiring an additional 5,866 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Old Dominion Freight Line by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,325,953 shares of the transportation company’s stock worth $219,379,000 after acquiring an additional 63,383 shares during the period. Finally, Flaharty Asset Management LLC acquired a new position in shares of Old Dominion Freight Line in the first quarter worth approximately $59,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 3.2%

Shares of NASDAQ ODFL opened at $171.07 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a market cap of $35.77 billion, a PE ratio of 34.42, a P/E/G ratio of 8.02 and a beta of 1.27. The company’s fifty day simple moving average is $147.97 and its 200 day simple moving average is $149.60. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $209.61.

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

Old Dominion Freight Line Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on ODFL. Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Evercore ISI decreased their price objective on shares of Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a research report on Thursday, October 30th. Wolfe Research set a $138.00 target price on shares of Old Dominion Freight Line in a research note on Thursday. JPMorgan Chase & Co. cut their price target on shares of Old Dominion Freight Line from $144.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Finally, Jefferies Financial Group increased their price target on Old Dominion Freight Line from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Friday, December 19th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $159.46.

About Old Dominion Freight Line

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.