Columbia Asset Management Sells 500 Shares of Old Dominion Freight Line, Inc. $ODFL

Columbia Asset Management lowered its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.1% in the second quarter, HoldingsChannel reports. The firm owned 2,598 shares of the transportation company’s stock after selling 500 shares during the period. Columbia Asset Management’s holdings in Old Dominion Freight Line were worth $422,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Old Dominion Freight Line by 1.9% during the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after purchasing an additional 416,097 shares during the period. Invesco Ltd. grew its holdings in Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock worth $706,841,000 after purchasing an additional 53,079 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Old Dominion Freight Line by 79.5% during the first 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 during the period. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Old Dominion Freight Line by 11.4% during the first quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock worth $232,955,000 after purchasing an additional 145,058 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $140.78 on Wednesday. The company has a 50 day moving average of $149.18 and a 200-day moving average of $157.09. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a market cap of $29.59 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company posted $1.48 EPS. The business’s revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts forecast 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, September 17th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 8th. Truist Financial upped their price target on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Susquehanna upped their price target on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Baird R W upgraded shares of Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Finally, TD Cowen decreased their price target on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $166.33.

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.