Securian Asset Management Inc. reduce stock position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

VaselineAugust 13, 2024

0 4 minutes read

Securian Asset Management Inc. reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,212 shares of the transportation company’s stock after selling 374 shares during the quarter. Holdings of Securian Asset Management Inc. in Old Dominion Freight Line were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the company. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth $27,000. Farmers & Merchants Investments Inc. raised its stake in shares of Old Dominion Freight Line by 100.0% in the first 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. raised its stake in shares of 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 worth $27,000 after acquiring an additional 148 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth $29,000. Finally, Fortitude Family Office LLC raised its stake in shares of Old Dominion Freight Line by 103.0% in the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s shares.

Changes in Analyst Ratings

Several brokerages recently weighed in on ODFL. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their target price on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Bank of America raised their target price on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company initiated coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They set an “underweight” rating and a $175.00 price target on the stock. Finally, TD Cowen boosted 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 note on Thursday, the 25th July. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $202.78, based on data from MarketBeat.com.

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Inventories of the old Dominion freight line fell 1.4%

Shares of NASDAQ:ODFL opened at $190.62 on Tuesday. The company has a market cap of $41.42 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 3.92 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a current ratio of 1.46, a quick ratio of 2.29, and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $185.74 and a 200-day moving average price of $199.10.

Old Dominion Freight Line (NASDAQ:ODFL – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion for 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 company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted earnings of $1.33 per share. As a group, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.73 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4. This represents a dividend of $1.04 on an annualized basis and a yield of 0.55%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Old Dominion Freight Line Company Profile

(Free report)

Old Dominion Freight Line, Inc operates as a less-than-truckload motor vehicle carrier in the United States and North America. The company offers regional, interregional and national less-than-truckload services as well as express transportation. It also offers various value-added services, including container shipping, truckload brokerage and supply chain consulting.