City Holding Co. Has $377,000 Position in Old Dominion Freight Line, Inc. $ODFL

City Holding Co. lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 63.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,680 shares of the transportation company’s stock after selling 4,724 shares during the quarter. City Holding Co.’s holdings in Old Dominion Freight Line were worth $377,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ODFL. Vest Financial LLC boosted its position in shares of Old Dominion Freight Line by 66.8% during the 2nd quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock valued at $27,727,000 after acquiring an additional 68,410 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Old Dominion Freight Line by 31.2% during the third quarter. Assenagon Asset Management S.A. now owns 253,478 shares of the transportation company’s stock worth $35,685,000 after purchasing an additional 60,279 shares during the period. Bridges Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 0.7% during the second quarter. Bridges Investment Management Inc. now owns 688,961 shares of the transportation company’s stock valued at $111,818,000 after purchasing an additional 4,849 shares in the last quarter. Mariner Investment Group LLC bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $933,000. Finally, Founders Financial Securities LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $908,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

ODFL opened at $163.73 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $34.24 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 7.71 and a beta of 1.27. The company’s 50 day simple moving average is $146.04 and its 200-day simple moving average is $149.24. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $209.61.

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 for the quarter, topping the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. Old Dominion Freight Line’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 EPS. Sell-side analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is 22.54%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ODFL. Stifel Nicolaus set a $173.00 target price on Old Dominion Freight Line and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Susquehanna reissued a “neutral” rating and set a $170.00 price objective on shares of Old Dominion Freight Line in a report on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Wolfe Research lifted their price target on shares of Old Dominion Freight Line from $140.00 to $141.00 and gave the company an “underperform” rating in a report on Monday, December 8th. Finally, Morgan Stanley upgraded shares of Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $165.00 to $190.00 in a research report on Monday, December 8th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $157.08.

Old Dominion Freight Line Profile

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.