Old Dominion Freight Line (ODFL) Shares Sold by Next Century Growth Investors LLC

Next Century Growth Investors LLC decreased its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 19.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 81,509 shares of the transportation company’s stock after selling 19,121 shares during the quarter. Old Dominion Freight Line makes up approximately 1.6% of Next Century Growth Investors LLC’s holdings, making the stock its 22nd largest position. Next Century Growth Investors LLC’s holdings in Old Dominion Freight Line were worth $11,979,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ODFL. Captrust Financial Advisors bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $138,000. Stephens Inc. AR bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $209,000. Claraphi Advisory Network LLC bought a new position in shares of Old Dominion Freight Line during the 1st quarter valued at $213,000. Reliant Investment Management LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $216,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Old Dominion Freight Line by 31.1% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,656 shares of the transportation company’s stock valued at $218,000 after purchasing an additional 393 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Old Dominion Freight Line traded up $0.23, reaching $157.78, during midday trading on Thursday, Marketbeat.com reports. The stock had a trading volume of 1,442 shares, compared to its average volume of 503,376. Old Dominion Freight Line has a 1-year low of $90.62 and a 1-year high of $160.36. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $12.69 billion, a PE ratio of 36.39, a PEG ratio of 1.03 and a beta of 1.21.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, April 26th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. Old Dominion Freight Line had a net margin of 14.38% and a return on equity of 18.47%. The business had revenue of $925.02 million for the quarter, compared to analyst estimates of $925.83 million. During the same period last year, the business posted $0.80 EPS. Old Dominion Freight Line’s revenue was up 22.7% compared to the same quarter last year. analysts anticipate that Old Dominion Freight Line will post 6.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Wednesday, June 6th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, June 5th. This represents a $0.52 dividend on an annualized basis and a yield of 0.33%. Old Dominion Freight Line’s payout ratio is presently 11.93%.

Old Dominion Freight Line announced that its board has initiated a stock repurchase program on Thursday, May 17th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

ODFL has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Old Dominion Freight Line from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 8th. Bank of America raised their price target on shares of Old Dominion Freight Line from $127.00 to $133.00 and gave the company an “underperform” rating in a report on Thursday, March 8th. BidaskClub downgraded shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a report on Friday, April 27th. ValuEngine downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Finally, Robert W. Baird restated a “hold” rating and set a $145.00 price target on shares of Old Dominion Freight Line in a report on Tuesday, April 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $142.00.

In related news, Director Leo H. Suggs sold 800 shares of the firm’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $148.44, for a total value of $118,752.00. Following the transaction, the director now directly owns 5,679 shares in the company, valued at approximately $842,990.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.00% of the company’s stock.

Old Dominion Freight Line 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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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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