Bank of Montreal Can decreased its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 76.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,923 shares of the transportation company’s stock after selling 44,511 shares during the period. Bank of Montreal Can’s holdings in Old Dominion Freight Line were worth $2,010,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Capital Investment Advisory Services LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $29,000. CWM LLC raised its position in Old Dominion Freight Line by 42.5% in the 1st quarter. CWM LLC now owns 258 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at $42,000. Ranger Investment Management L.P. purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $36,000. Finally, JOYN Advisors Inc. raised its position in Old Dominion Freight Line by 58.2% in the 4th quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 71.92% of the company’s stock.
Several analysts recently commented on ODFL shares. KeyCorp upped their price target on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 8th. Bank of America downgraded shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and upped their price target for the company from $154.00 to $158.00 in a research report on Tuesday, February 26th. Cowen upped their price target on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a research report on Thursday, February 7th. BidaskClub upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Finally, ValuEngine upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $149.20.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.64 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.06. The company had revenue of $990.78 million during the quarter, compared to the consensus estimate of $1 billion. Old Dominion Freight Line had a net margin of 15.32% and a return on equity of 23.87%. Old Dominion Freight Line’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, equities research analysts forecast that Old Dominion Freight Line will post 7.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.68 dividend on an annualized basis and a yield of 0.47%. Old Dominion Freight Line’s payout ratio is currently 9.21%.
In other Old Dominion Freight Line news, SVP David J. Bates sold 1,951 shares of the company’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $151.84, for a total transaction of $296,239.84. Following the completion of the transaction, the senior vice president now owns 6,027 shares in the company, valued at approximately $915,139.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.90% of the stock is currently owned by corporate insiders.
About Old Dominion Freight Line
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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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