Gladstone Institutional Advisory LLC Sells 98 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gladstone Institutional Advisory LLC cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,108 shares of the transportation company’s stock after selling 98 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Old Dominion Freight Line were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $495,387,000. International Assets Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 39,016.7% in the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after acquiring an additional 703,471 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Old Dominion Freight Line by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Old Dominion Freight Line by 73.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 281,076 shares of the transportation company’s stock worth $114,999,000 after acquiring an additional 119,306 shares during the last quarter. Finally, Scopus Asset Management L.P. lifted its holdings in shares of Old Dominion Freight Line by 201.4% in the 3rd quarter. Scopus Asset Management L.P. now owns 35,000 shares of the transportation company’s stock worth $14,320,000 after acquiring an additional 69,503 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $172.49 on Thursday. The stock has a market cap of $37.48 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 2.22 and a beta of 1.07. The firm’s 50-day moving average is $207.08 and its 200 day moving average is $204.47. Old Dominion Freight Line, Inc. has a 1 year low of $147.90 and a 1 year high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 6.02 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ODFL shares. Baird R W upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a report on Monday, April 29th. Barclays lowered their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Evercore ISI lowered their price target on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, TD Cowen lowered their price target on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a report on Friday, April 26th. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $209.08.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.90% of the stock is currently owned by company 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.