Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,808 shares of the transportation company’s stock after selling 658 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Old Dominion Freight Line were worth $4,104,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares during the last quarter. Advisory Services Network LLC raised its stake in Old Dominion Freight Line by 23.3% during the 4th quarter. Advisory Services Network LLC now owns 7,859 shares of the transportation company’s stock valued at $1,386,000 after acquiring an additional 1,484 shares in the last quarter. APG Asset Management N.V. raised its stake in Old Dominion Freight Line by 96.2% during the 4th quarter. APG Asset Management N.V. now owns 22,557 shares of the transportation company’s stock valued at $3,843,000 after acquiring an additional 11,060 shares in the last quarter. Argent Trust Co raised its stake in Old Dominion Freight Line by 1.5% during the 4th quarter. Argent Trust Co now owns 17,244 shares of the transportation company’s stock valued at $3,042,000 after acquiring an additional 250 shares in the last quarter. Finally, Townsquare Capital LLC raised its stake in Old Dominion Freight Line by 50.6% during the 4th quarter. Townsquare Capital LLC now owns 22,821 shares of the transportation company’s stock valued at $4,026,000 after acquiring an additional 7,666 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $144.46 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $30.36 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 3.35 and a beta of 1.24. The stock’s fifty day simple moving average is $160.64 and its 200 day simple moving average is $167.25. Old Dominion Freight Line, Inc. has a 52-week low of $141.73 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line’s payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ODFL. Raymond James Financial cut their target price on Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Truist Financial lifted their target price on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Monday, August 4th. Stifel Nicolaus cut their target price on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $167.62.

Old Dominion Freight Line Company 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.