HBK Sorce Advisory LLC Lowers Position in Old Dominion Freight Line (NASDAQ:ODFL)

Share on StockTwits

HBK Sorce Advisory LLC cut its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 13.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,784 shares of the transportation company’s stock after selling 281 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Old Dominion Freight Line were worth $266,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quantamental Technologies LLC lifted its stake in Old Dominion Freight Line by 155.2% in the second quarter. Quantamental Technologies LLC now owns 171 shares of the transportation company’s stock worth $26,000 after acquiring an additional 104 shares during the period. Cordasco Financial Network raised its holdings in Old Dominion Freight Line by 77.2% in the second quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares in the last quarter. CSat Investment Advisory L.P. acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $28,000. Kavar Capital Partners LLC acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $45,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $59,000. 71.49% of the stock is owned by institutional investors.

In other Old Dominion Freight Line news, Chairman Earl E. Congdon sold 56,400 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $166.53, for a total value of $9,392,292.00. Following the sale, the chairman now owns 10,854 shares in the company, valued at approximately $1,807,516.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Gregory B. Plemmons sold 1,249 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $163.39, for a total value of $204,074.11. Following the completion of the sale, the senior vice president now owns 5,714 shares in the company, valued at approximately $933,610.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,799 shares of company stock worth $14,586,493. Insiders own 11.90% of the company’s stock.

ODFL has been the topic of several recent analyst reports. BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. ValuEngine downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird set a $162.00 price objective on shares of Old Dominion Freight Line and gave the company a “hold” rating in a report on Friday, July 26th. Bank of America reiterated a “neutral” rating and issued a $150.00 target price (up previously from $144.00) on shares of Old Dominion Freight Line in a research report on Thursday, June 20th. Finally, Mizuho reiterated a “hold” rating and issued a $151.00 target price on shares of Old Dominion Freight Line in a research report on Tuesday, July 2nd. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $152.08.

Old Dominion Freight Line stock traded up $1.92 during mid-day trading on Wednesday, hitting $169.69. The company had a trading volume of 1,705 shares, compared to its average volume of 450,187. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 12-month low of $115.00 and a 12-month high of $176.22. The company’s fifty day moving average is $166.12 and its 200-day moving average is $152.63. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 2.44 and a beta of 1.50.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.05. Old Dominion Freight Line had a return on equity of 23.57% and a net margin of 15.48%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm posted $1.99 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Old Dominion Freight Line will post 7.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a $0.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio is presently 9.21%.

Old Dominion Freight Line Profile

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

Further Reading: Trade War

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

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

California Public Employees Retirement System Acquires 130,706 Shares of US Foods Holding Corp
California Public Employees Retirement System Acquires 130,706 Shares of US Foods Holding Corp
Simon Property Group  Earns Outperform Rating from Raymond James
Simon Property Group Earns Outperform Rating from Raymond James
ValuEngine Lowers Vodafone Group  to Sell
ValuEngine Lowers Vodafone Group to Sell
Q3 2020 Earnings Estimate for Performance Food Group Co  Issued By Jefferies Financial Group
Q3 2020 Earnings Estimate for Performance Food Group Co Issued By Jefferies Financial Group
William Blair Comments on Thermon Group Holdings Inc’s Q3 2020 Earnings
William Blair Comments on Thermon Group Holdings Inc’s Q3 2020 Earnings
Zacks Investment Research Downgrades National Health Investors  to Sell
Zacks Investment Research Downgrades National Health Investors to Sell


© 2006-2019 Ticker Report