Old Dominion Freight Line, Inc. $ODFL Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,383 shares of the transportation company’s stock after selling 1,964 shares during the period. Ameritas Investment Partners Inc.’s holdings in Old Dominion Freight Line were worth $2,010,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at $995,000. Eisler Capital Management Ltd. acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth $21,538,000. Prudential Financial Inc. boosted its holdings in shares of Old Dominion Freight Line by 13.0% in the second quarter. Prudential Financial Inc. now owns 108,440 shares of the transportation company’s stock valued at $17,600,000 after acquiring an additional 12,516 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Old Dominion Freight Line by 3.3% during the second quarter. Coldstream Capital Management Inc. now owns 3,602 shares of the transportation company’s stock worth $585,000 after acquiring an additional 114 shares during the period. Finally, Cynosure Group LLC raised its holdings in Old Dominion Freight Line by 29.8% during the second quarter. Cynosure Group LLC now owns 2,527 shares of the transportation company’s stock worth $410,000 after purchasing an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $134.33 on Wednesday. The firm has a market capitalization of $28.09 billion, a PE ratio of 27.03, a P/E/G ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $228.72. The firm’s 50-day simple moving average is $137.90 and its 200 day simple moving average is $151.30. The company has a quick ratio of 1.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is currently 22.54%.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent analyst reports. Barclays reduced their price objective 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. Wolfe Research raised their price target on Old Dominion Freight Line from $129.00 to $140.00 in a report on Tuesday, October 7th. UBS Group lifted their price target on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Zacks Research upgraded Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a research report on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $159.33.

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.