Mesirow Financial Investment Management Equity Management Sells 5,600 Shares of Old Dominion Freight Line (ODFL)

Mesirow Financial Investment Management Equity Management lessened its position in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 40.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,215 shares of the transportation company’s stock after selling 5,600 shares during the quarter. Mesirow Financial Investment Management Equity Management’s holdings in Old Dominion Freight Line were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Gateway Investment Advisers LLC lifted its position in shares of Old Dominion Freight Line by 6.7% during the 4th quarter. Gateway Investment Advisers LLC now owns 127,810 shares of the transportation company’s stock worth $16,813,000 after buying an additional 7,987 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Old Dominion Freight Line by 5.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 242,282 shares of the transportation company’s stock worth $31,873,000 after buying an additional 13,382 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $132,000. Westpac Banking Corp bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $523,000. Finally, Acadian Asset Management LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $4,898,000. 75.36% of the stock is currently owned by institutional investors.

Shares of Old Dominion Freight Line opened at $147.26 on Friday, according to MarketBeat.com. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 52-week low of $84.87 and a 52-week high of $152.50. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 0.98 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, April 26th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. Old Dominion Freight Line had a return on equity of 18.47% and a net margin of 14.38%. The firm had revenue of $925.02 million during the quarter, compared to the consensus estimate of $925.83 million. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. equities research analysts forecast that Old Dominion Freight Line will post 6.39 earnings per share for the current year.

Old Dominion Freight Line declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 17th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the transportation company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, June 6th will be given a $0.13 dividend. The ex-dividend date is Tuesday, June 5th. This represents a $0.52 annualized dividend and a yield of 0.35%. Old Dominion Freight Line’s payout ratio is 11.93%.

ODFL has been the subject of several analyst reports. Cowen restated a “market perform” rating and set a $136.00 target price (up previously from $113.00) on shares of Old Dominion Freight Line in a research report on Thursday, February 8th. Buckingham Research raised their target price on Old Dominion Freight Line from $144.00 to $153.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley restated an “overweight” rating and set a $150.00 target price (up previously from $99.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 21st. Zacks Investment Research downgraded Old Dominion Freight Line from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 8th. Finally, Bank of America raised their target price on Old Dominion Freight Line from $127.00 to $133.00 and gave the stock an “underperform” rating in a research report on Thursday, March 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Old Dominion Freight Line has an average rating of “Hold” and an average target price of $138.75.

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 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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