Old Dominion Freight Line, Inc. $ODFL Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,446 shares of the transportation company’s stock after selling 701 shares during the quarter. Cresset Asset Management LLC’s holdings in Old Dominion Freight Line were worth $405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares during the period. American National Bank & Trust acquired a new position in Old Dominion Freight Line in the 1st quarter valued at $30,000. Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line in the 1st quarter valued at $39,000. Zions Bancorporation National Association UT acquired a new position in Old Dominion Freight Line in the 1st quarter valued at $39,000. Finally, Itau Unibanco Holding S.A. increased its stake in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 192 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ODFL. Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Thursday, July 31st. Stephens dropped their price objective on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus dropped their price objective on shares of 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. Bank of America boosted their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and upped their price target for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $167.62.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $159.13 on Monday. Old Dominion Freight Line, Inc. has a 52 week low of $140.91 and a 52 week high of $233.26. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $158.50 and its 200 day simple moving average is $164.29. The firm has a market capitalization of $33.44 billion, a PE ratio of 31.08, a P/E/G ratio of 3.69 and a beta of 1.24.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.Old Dominion Freight Line’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

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.