Logan Capital Management Inc. Sells 7,718 Shares of Old Dominion Freight Line, Inc. $ODFL

Logan Capital Management Inc. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,035 shares of the transportation company’s stock after selling 7,718 shares during the quarter. Logan Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $14,450,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after acquiring an additional 79 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Old Dominion Freight Line by 48.7% in the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after purchasing an additional 1,018 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Old Dominion Freight Line by 5.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock valued at $1,507,000 after purchasing an additional 443 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Old Dominion Freight Line by 17.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,273 shares of the transportation company’s stock valued at $707,000 after purchasing an additional 632 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Old Dominion Freight Line by 11.4% during the first quarter. Oppenheimer & Co. Inc. now owns 2,205 shares of the transportation company’s stock valued at $365,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ODFL. Truist Financial upped their target price on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a research note on Thursday, July 31st. JPMorgan Chase & Co. dropped their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Thursday, July 31st. Finally, Citigroup decreased their price target on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $161.90.

Old Dominion Freight Line Trading Up 0.4%

Old Dominion Freight Line stock opened at $136.73 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $28.74 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19. The stock has a 50-day moving average of $144.15 and a two-hundred day moving average of $153.96. Old Dominion Freight Line, Inc. has a one year low of $133.69 and a one year high of $233.26.

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

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

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.