Old Dominion Freight Line, Inc. $ODFL Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,987 shares of the transportation company’s stock after selling 3,750 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Old Dominion Freight Line were worth $7,741,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 0.4% during the second quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company’s stock valued at $3,693,663,000 after purchasing an additional 91,842 shares during the period. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 20.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock valued at $474,292,000 after purchasing an additional 492,563 shares in the last quarter. Norges Bank purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth $371,961,000. Lazard Asset Management LLC lifted its holdings in Old Dominion Freight Line by 11.6% in the 2nd quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock worth $313,802,000 after buying an additional 200,681 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Old Dominion Freight Line by 9.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock worth $251,046,000 after buying an additional 137,068 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL opened at $170.00 on Wednesday. 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 $35.55 billion, a PE ratio of 34.21, a P/E/G ratio of 8.73 and a beta of 1.27. The business has a fifty day simple moving average of $153.50 and a 200-day simple moving average of $149.88. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (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 company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 earnings per share. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus set a $173.00 target price on Old Dominion Freight Line and gave the company a “buy” rating in a research note on Tuesday, December 16th. Citigroup reiterated a “buy” rating and issued a $196.00 price target (up from $170.00) on shares of Old Dominion Freight Line in a report on Wednesday, January 7th. Jefferies Financial Group raised their target price on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock a “hold” rating in a report on Friday, December 19th. Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Finally, Wall Street Zen cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $162.71.

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.