SG Americas Securities LLC Reduces Holdings in Old Dominion Freight Line, Inc. $ODFL

SG Americas Securities LLC trimmed its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 90.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,009 shares of the transportation company’s stock after selling 72,120 shares during the quarter. SG Americas Securities LLC’s holdings in Old Dominion Freight Line were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ODFL. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Old Dominion Freight Line by 9.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,395 shares of the transportation company’s stock worth $58,304,000 after buying an additional 30,328 shares during the period. Vest Financial LLC grew its holdings 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 worth $27,727,000 after acquiring an additional 68,410 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Old Dominion Freight Line in the 1st quarter worth approximately $778,000. PNC Financial Services Group Inc. lifted its stake in shares of Old Dominion Freight Line by 8.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 27,223 shares of the transportation company’s stock valued at $4,504,000 after purchasing an additional 2,161 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after purchasing an additional 416,097 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ODFL. Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Monday, August 4th. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Thursday, July 31st. Zacks Research raised shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, UBS Group upped their price objective on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $159.33.

Old Dominion Freight Line Price Performance

ODFL opened at $134.28 on Friday. The firm has a market cap of $28.08 billion, a PE ratio of 27.02, a P/E/G ratio of 3.22 and a beta of 1.22. The stock has a 50-day moving average price of $138.41 and a 200-day moving average price of $151.71. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $228.72. 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 announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $1.41 billion for 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%. Old Dominion Freight Line’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

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.