Alliancebernstein L.P. reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,347 shares of the transportation company’s stock after selling 1,810 shares during the period. Alliancebernstein L.P.’s holdings in Old Dominion Freight Line were worth $3,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its position in Old Dominion Freight Line by 115.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,206 shares of the transportation company’s stock valued at $115,000 after acquiring an additional 647 shares during the period. Paradigm Asset Management Co. LLC purchased a new position in Old Dominion Freight Line in the second quarter worth about $157,000. IFP Advisors Inc raised its holdings in Old Dominion Freight Line by 12.9% in the second quarter. IFP Advisors Inc now owns 2,077 shares of the transportation company’s stock worth $198,000 after buying an additional 238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Old Dominion Freight Line by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,351 shares of the transportation company’s stock worth $224,000 after buying an additional 288 shares during the last quarter. Finally, Greenwood Capital Associates LLC purchased a new position in Old Dominion Freight Line in the second quarter worth about $228,000. 73.84% of the stock is owned by institutional investors.

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Several research analysts have issued reports on ODFL shares. Credit Suisse Group reaffirmed an “outperform” rating and issued a $109.00 target price (up from $101.00) on shares of Old Dominion Freight Line in a report on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the stock from $108.00 to $98.00 in a report on Monday, July 31st. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a report on Tuesday. BidaskClub raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Buckingham Research started coverage on shares of Old Dominion Freight Line in a report on Monday, August 21st. They issued a “neutral” rating and a $105.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $100.75.

Shares of Old Dominion Freight Line, Inc. (ODFL) opened at 108.78 on Friday. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 28.17 and a beta of 1.09. The company’s 50-day moving average is $102.11 and its 200 day moving average is $93.68. Old Dominion Freight Line, Inc. has a 12 month low of $68.82 and a 12 month high of $110.45.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. The business had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post $4.14 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.37%. Old Dominion Freight Line’s payout ratio is 10.39%.

In other news, Vice Chairman David S. Congdon sold 575 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total transaction of $56,252.25. Following the sale, the insider now owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.00% of the stock is owned by company insiders.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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