Old Dominion Freight Line, Inc. $ODFL Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,481 shares of the transportation company’s stock after selling 558 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Old Dominion Freight Line were worth $565,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ODFL. T. Rowe Price Investment Management Inc. grew its position in shares of Old Dominion Freight Line by 79.5% during 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 acquiring an additional 1,151,221 shares during the last quarter. Nuveen LLC acquired a new position in Old Dominion Freight Line during the 1st quarter valued at about $151,107,000. JPMorgan Chase & Co. grew its position in Old Dominion Freight Line by 45.1% in the 1st 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 last quarter. Vanguard Group Inc. grew its position in Old Dominion Freight Line by 1.9% in the 1st 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 last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Old Dominion Freight Line by 2,744.5% in the second quarter. Assenagon Asset Management S.A. now owns 193,199 shares of the transportation company’s stock valued at $31,356,000 after purchasing an additional 186,407 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ODFL. UBS Group boosted their price objective on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Raymond James Financial reiterated an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 30th. TD Cowen decreased their price target on Old Dominion Freight Line from $159.00 to $154.00 in a research note on Thursday, October 30th. Morgan Stanley cut their price objective on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Finally, Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.33.

Old Dominion Freight Line Stock Up 0.6%

NASDAQ ODFL opened at $130.66 on Wednesday. Old Dominion Freight Line, Inc. has a 12 month low of $128.51 and a 12 month high of $228.72. The company has a market capitalization of $27.32 billion, a P/E ratio of 26.29, a PEG ratio of 3.22 and a beta of 1.22. The company’s 50 day simple moving average is $139.46 and its 200 day simple moving average is $152.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 earnings per share. Equities research 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors 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 0.9%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 22.54%.

About Old Dominion Freight Line

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.