International Assets Investment Management LLC Sells 450 Shares of Old Dominion Freight Line, Inc. $ODFL

International Assets Investment Management LLC reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 13.1% in the second quarter, HoldingsChannel.com reports. The firm owned 2,976 shares of the transportation company’s stock after selling 450 shares during the period. International Assets Investment Management LLC’s holdings in Old Dominion Freight Line were worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 416,097 shares during the last quarter. Invesco Ltd. boosted its position in shares of 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 acquiring an additional 53,079 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 acquiring an additional 1,151,221 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 754,796 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of 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 acquiring an additional 145,058 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Old Dominion Freight Line from $195.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Susquehanna upped their target price on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Truist Financial upped their target price on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Baird R W upgraded shares of Old Dominion Freight Line to a “hold” rating in a research report on Tuesday, July 1st. Finally, Raymond James Financial set a $160.00 price target on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $163.86.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $144.36 on Wednesday. The company has a market cap of $30.34 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 3.33 and a beta of 1.19. The firm’s fifty day moving average is $145.28 and its 200 day moving average is $154.48. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. Old Dominion Freight Line’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.48 EPS. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is currently 21.88%.

Old Dominion Freight Line Company Profile

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.