Stock Yards Bank & Trust Co. Has $7.74 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Stock Yards Bank & Trust Co. cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,987 shares of the transportation company’s stock after selling 3,750 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Old Dominion Freight Line were worth $7,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Rakuten Investment Management Inc. purchased a new position in Old Dominion Freight Line in the third quarter valued at about $5,134,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Old Dominion Freight Line by 5.2% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 153,211 shares of the transportation company’s stock worth $21,569,000 after purchasing an additional 7,546 shares during the period. Root Financial Partners LLC acquired a new position in shares of Old Dominion Freight Line during the third quarter worth approximately $67,000. Fisher Funds Management LTD acquired a new position in shares of Old Dominion Freight Line during the third quarter valued at about $65,951,000. Finally, Arkadios Wealth Advisors lifted its position in Old Dominion Freight Line by 3.2% in the third quarter. Arkadios Wealth Advisors now owns 15,914 shares of the transportation company’s stock worth $2,240,000 after purchasing an additional 491 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ODFL. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. Cowen reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Friday, January 9th. Zacks Research lowered shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $162.71.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $170.00 on Wednesday. The company has a market capitalization of $35.55 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 8.73 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $209.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. The company’s 50 day moving average price is $153.50 and its two-hundred day moving average price is $149.88.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.54%.

Old Dominion Freight Line Company 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.