Millennium Management LLC decreased its position in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 66.8% during the 4th quarter, Holdings Channel reports. The fund owned 36,540 shares of the transportation company’s stock after selling 73,372 shares during the quarter. Millennium Management LLC’s holdings in Old Dominion Freight Line were worth $4,512,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new position in Old Dominion Freight Line during the 4th quarter worth approximately $29,000. Oregon Public Employees Retirement Fund boosted its stake in Old Dominion Freight Line by 9,888.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,182,730 shares of the transportation company’s stock worth $34,000 after acquiring an additional 4,140,856 shares during the last quarter. Ranger Investment Management L.P. bought a new position in Old Dominion Freight Line during the 4th quarter worth approximately $36,000. JOYN Advisors Inc. boosted its stake in Old Dominion Freight Line by 58.2% during the 4th quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock worth $37,000 after acquiring an additional 110 shares during the last quarter. Finally, Claybrook Capital LLC bought a new position in Old Dominion Freight Line during the 4th quarter worth approximately $51,000. 72.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of ODFL stock opened at $154.83 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.26 and a beta of 1.44. Old Dominion Freight Line has a 52 week low of $115.00 and a 52 week high of $170.22.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, February 7th. The transportation company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.74 by $0.21. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 23.90%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the company posted $2.39 EPS. On average, analysts forecast that Old Dominion Freight Line will post 7.94 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.17 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a yield of 0.44%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 9.21%.
In other Old Dominion Freight Line news, SVP David J. Bates sold 1,951 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 6,027 shares in the company, valued at approximately $915,139.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.00% of the company’s stock.
ODFL has been the topic of several research analyst reports. Seaport Global Securities restated a “buy” rating on shares of Old Dominion Freight Line in a report on Friday, April 5th. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a report on Monday, March 11th. Credit Suisse Group restated a “buy” rating and set a $147.00 target price on shares of Old Dominion Freight Line in a report on Tuesday, January 15th. BidaskClub upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Cowen raised their target price on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the stock a “market perform” rating in a report on Thursday, February 7th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $149.20.
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Old Dominion Freight Line Company 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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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