Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Associated Banc Corp

Associated Banc Corp reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,954 shares of the transportation company’s stock after selling 570 shares during the period. Associated Banc Corp’s holdings in Old Dominion Freight Line were worth $1,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ODFL. Whipplewood Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $35,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the 4th quarter worth $41,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the 3rd quarter worth $45,000. Brown Brothers Harriman & Co. grew its stake in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ODFL shares. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Barclays lowered their price objective on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Citigroup lowered their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Morgan Stanley increased their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Trading Down 0.3 %

Shares of Old Dominion Freight Line stock opened at $162.50 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $34.54 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The business has a fifty day simple moving average of $186.05 and a 200-day simple moving average of $195.34. Old Dominion Freight Line, Inc. has a fifty-two week low of $159.35 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

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.