Metis Global Partners LLC Decreases Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Metis Global Partners LLC lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,471 shares of the transportation company’s stock after selling 1,125 shares during the period. Metis Global Partners LLC’s holdings in Old Dominion Freight Line were worth $1,699,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 purchasing an additional 30,328 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at $778,000. Vest Financial LLC boosted its position in shares of Old Dominion Freight Line by 66.8% in the 2nd quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock worth $27,727,000 after purchasing an additional 68,410 shares in the last quarter. PNC Financial Services Group Inc. boosted its position 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 worth $4,504,000 after purchasing an additional 2,161 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after buying an additional 416,097 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL opened at $137.76 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a 12-month low of $133.69 and a 12-month high of $233.26. The firm has a 50 day moving average of $141.26 and a two-hundred day moving average of $152.92. The firm has a market capitalization of $28.95 billion, a PE ratio of 27.72, a P/E/G ratio of 3.22 and a beta of 1.22.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. The ex-dividend date 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 presently 22.54%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ODFL. Evercore ISI decreased their price target on Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Morgan Stanley lowered their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Stephens dropped their target price on shares of Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of Old Dominion Freight Line in a report on Thursday, October 30th. Finally, Susquehanna lifted their price objective on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $159.33.

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.