Bristol Gate Capital Partners Inc. Sells 91,125 Shares of Old Dominion Freight Line, Inc. $ODFL

Bristol Gate Capital Partners Inc. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 421,028 shares of the transportation company’s stock after selling 91,125 shares during the period. Old Dominion Freight Line comprises 3.9% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 20th biggest holding. Bristol Gate Capital Partners Inc. owned about 0.20% of Old Dominion Freight Line worth $68,333,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Old Dominion Freight Line during the second quarter worth about $371,961,000. T. Rowe Price Investment Management Inc. lifted its stake in Old Dominion Freight Line by 79.5% in the 1st 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 in the last quarter. Nuveen LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter worth $151,107,000. JPMorgan Chase & Co. boosted its holdings in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after purchasing an additional 754,796 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Old Dominion Freight Line by 149.5% during the second quarter. Citigroup Inc. now owns 710,786 shares of the transportation company’s stock valued at $115,360,000 after purchasing an additional 425,846 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Up 0.2%

Shares of ODFL stock opened at $135.21 on Friday. The company has a market cap of $28.27 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $227.00. The stock has a 50 day simple moving average of $137.50 and a 200-day simple moving average of $150.65. 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 data 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 company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.Old Dominion Freight Line’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be issued 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%.

Analysts Set New Price Targets

ODFL has been the subject of a number of research reports. Evercore ISI lowered their target price on Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a research report on Thursday, October 30th. Barclays lowered their target price on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. Finally, TD Cowen dropped their price target on Old Dominion Freight Line from $159.00 to $154.00 in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $157.27.

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.