D. E. Shaw & Co. Inc. Sells 7,102 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

D. E. Shaw & Co. Inc. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 59.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,838 shares of the transportation company’s stock after selling 7,102 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Old Dominion Freight Line were worth $853,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ODFL. Merit Financial Group LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $275,000. UMB Bank n.a. boosted its position in Old Dominion Freight Line by 28.9% in the fourth quarter. UMB Bank n.a. now owns 735 shares of the transportation company’s stock worth $130,000 after purchasing an additional 165 shares during the last quarter. Simon Quick Advisors LLC grew its stake in Old Dominion Freight Line by 19.3% in the 4th quarter. Simon Quick Advisors LLC now owns 1,521 shares of the transportation company’s stock valued at $268,000 after purchasing an additional 246 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Old Dominion Freight Line by 7.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 61,059 shares of the transportation company’s stock valued at $10,771,000 after purchasing an additional 4,265 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Old Dominion Freight Line by 5.1% during the 4th quarter. SG Americas Securities LLC now owns 83,890 shares of the transportation company’s stock worth $14,798,000 after purchasing an additional 4,076 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Down 1.2%

Shares of Old Dominion Freight Line stock opened at $161.56 on Friday. The company’s 50-day moving average price is $159.76 and its 200-day moving average price is $182.43. The company has a market cap of $34.14 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.89 and a beta of 1.31. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 EPS. On average, equities analysts expect 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line’s payout ratio is currently 21.01%.

Analyst Ratings Changes

ODFL has been the subject of several research reports. Truist Financial reduced their price target on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and dropped their target price for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. UBS Group reduced their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Stephens restated an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $182.26.

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.