Valley National Advisers Inc. Decreases Stock Position in Old Dominion Freight Line, Inc. $ODFL

Valley National Advisers Inc. trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 91.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 903 shares of the transportation company’s stock after selling 9,652 shares during the period. Valley National Advisers Inc.’s holdings in Old Dominion Freight Line were worth $127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stephens Inc. AR grew its stake in shares of Old Dominion Freight Line by 0.7% during the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after acquiring an additional 67 shares in the last quarter. YANKCOM Partnership boosted its holdings in Old Dominion Freight Line by 9.1% in the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 68 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its holdings in Old Dominion Freight Line by 4.4% in the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock valued at $272,000 after purchasing an additional 71 shares during the last quarter. iA Global Asset Management Inc. grew its stake in Old Dominion Freight Line by 0.3% during the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 72 shares in the last quarter. Finally, STF Management LP increased its holdings in Old Dominion Freight Line by 2.4% during the 2nd quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock worth $532,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ODFL. Evercore ISI reduced 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 note on Thursday, October 30th. TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $159.00 to $154.00 in a research note on Thursday, October 30th. BMO Capital Markets raised shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $172.00 to $170.00 in a report on Monday, December 1st. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, December 3rd. Finally, Rothschild & Co Redburn assumed coverage on shares of Old Dominion Freight Line in a research report on Wednesday, November 26th. They set a “sell” rating and a $114.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $155.58.

Old Dominion Freight Line Stock Up 0.1%

Shares of NASDAQ:ODFL opened at $159.49 on Monday. The company’s fifty day moving average is $143.63 and its two-hundred day moving average is $149.21. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61. The stock has a market capitalization of $33.35 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 8.45 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 EPS. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 22.54%.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.