Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Milestone Asset Management LLC

Milestone Asset Management LLC lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,855 shares of the transportation company’s stock after selling 118 shares during the period. Milestone Asset Management LLC’s holdings in Old Dominion Freight Line were worth $1,387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $27,000. Farmers & Merchants Investments Inc. grew its position in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares in the last quarter. Atwood & Palmer Inc. increased its stake in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $29,000. Finally, Fortitude Family Office LLC lifted its stake in Old Dominion Freight Line by 103.0% in the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ODFL shares. Bank of America increased their price objective on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. TD Cowen upped their price target on shares of Old Dominion Freight Line from $206.00 to $214.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective on the stock. BMO Capital Markets raised their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $202.78.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded down $0.01 during mid-day trading on Monday, reaching $200.16. The company’s stock had a trading volume of 755,093 shares, compared to its average volume of 1,623,437. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The firm’s fifty day moving average price is $188.30 and its two-hundred day moving average price is $199.11. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $43.49 billion, a P/E ratio of 35.24, a PEG ratio of 3.75 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.7 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Old Dominion Freight Line 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.