Roosevelt Investment Group Inc. reduced its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 9.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 127,533 shares of the transportation company’s stock after selling 13,699 shares during the quarter. Old Dominion Freight Line accounts for 1.7% of Roosevelt Investment Group Inc.’s investment portfolio, making the stock its 20th largest position. Roosevelt Investment Group Inc. owned 0.16% of Old Dominion Freight Line worth $15,749,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Capital Investment Advisory Services LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $29,000. Stratos Wealth Partners LTD. acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $120,000. Gradient Investments LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $137,000. Harvest Fund Management Co. Ltd acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $142,000. Finally, TRUE Private Wealth Advisors acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $145,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.
A number of equities research analysts have issued reports on the stock. KeyCorp increased their target price on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday. Cowen increased their target price on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the stock a “market perform” rating in a report on Thursday, February 7th. Zacks Investment Research lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. BidaskClub upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Morgan Stanley lowered shares of Old Dominion Freight Line from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $160.00 to $146.00 in a report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $143.45.
Shares of ODFL opened at $142.44 on Tuesday. Old Dominion Freight Line has a twelve month low of $115.00 and a twelve month high of $170.22. The firm has a market capitalization of $11.68 billion, a PE ratio of 19.30, a PEG ratio of 2.15 and a beta of 1.38. The company has a current ratio of 1.98, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, February 7th. The transportation company reported $1.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.21. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 23.90%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned $2.39 EPS. The company’s revenue was up 15.2% on a year-over-year basis. Equities analysts expect that Old Dominion Freight Line will post 7.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.48%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 7.05%.
Old Dominion Freight Line Company Profile
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.
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