Xponance Inc. Sells 5,699 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Xponance Inc. cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,505 shares of the transportation company’s stock after selling 5,699 shares during the period. Xponance Inc.’s holdings in Old Dominion Freight Line were worth $7,683,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in Old Dominion Freight Line by 22.5% during the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after acquiring an additional 27 shares during the period. Partners Capital Investment Group LLP boosted its stake in shares of Old Dominion Freight Line by 6.1% during the fourth quarter. Partners Capital Investment Group LLP now owns 697 shares of the transportation company’s stock valued at $283,000 after purchasing an additional 40 shares during the period. Gulf International Bank UK Ltd grew its holdings in shares of Old Dominion Freight Line by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock worth $1,858,000 after purchasing an additional 47 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Old Dominion Freight Line by 0.6% in the second quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after buying an additional 54 shares during the period. Finally, Meridian Wealth Management LLC raised its holdings in Old Dominion Freight Line by 6.2% during the 1st quarter. Meridian Wealth Management LLC now owns 954 shares of the transportation company’s stock valued at $209,000 after buying an additional 56 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ODFL shares. TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Stephens reiterated an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Robert W. Baird upped their target price on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Morgan Stanley cut their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $201.83.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $196.17 on Tuesday. The company has a market capitalization of $42.62 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The company’s 50-day moving average is $196.29 and its 200 day moving average is $195.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $1.33 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.64 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

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.