Cullen Frost Bankers Inc. Sells 138 Shares of Old Dominion Freight Line, Inc. $ODFL

Cullen Frost Bankers Inc. reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,264 shares of the transportation company’s stock after selling 138 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Old Dominion Freight Line were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Old Dominion Freight Line by 1.9% in the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after purchasing an additional 416,097 shares during the period. Invesco Ltd. boosted its position in shares of Old Dominion Freight Line by 1.3% in the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock worth $706,841,000 after purchasing an additional 53,079 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 79.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after purchasing an additional 1,151,221 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Old Dominion Freight Line by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Old Dominion Freight Line by 11.4% in the first quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock worth $232,955,000 after purchasing an additional 145,058 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $136.12 on Friday. The company has a market cap of $28.61 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 3.22 and a beta of 1.19. The firm’s fifty day moving average is $144.43 and its 200 day moving average is $154.24. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 EPS. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wolfe Research upped their price target on shares of Old Dominion Freight Line from $129.00 to $140.00 in a research report on Tuesday, October 7th. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Thursday, July 31st. Barclays dropped their target price on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Stephens dropped their target price on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Finally, Raymond James Financial set a $160.00 target price on shares of Old Dominion Freight Line and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.90.

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.