Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,939 shares of the transportation company’s stock after selling 231 shares during the period. Granite Investment Partners LLC’s holdings in Old Dominion Freight Line were worth $11,901,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new stake in Old Dominion Freight Line in the fourth quarter valued at $30,000. Guardian Wealth Advisors LLC bought a new stake in Old Dominion Freight Line in the third quarter valued at $36,000. Heritage Wealth Advisors bought a new stake in Old Dominion Freight Line in the fourth quarter valued at $43,000. Pittenger & Anderson Inc. lifted its stake in Old Dominion Freight Line by 145.8% in the third quarter. Pittenger & Anderson Inc. now owns 177 shares of the transportation company’s stock valued at $44,000 after buying an additional 105 shares during the last quarter. Finally, Ronald Blue Trust Inc. lifted its stake in Old Dominion Freight Line by 708.7% in the fourth quarter. Ronald Blue Trust Inc. now owns 186 shares of the transportation company’s stock valued at $47,000 after buying an additional 163 shares during the last quarter. 73.08% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Up 1.8 %

Shares of Old Dominion Freight Line stock traded up $5.59 during trading on Friday, hitting $315.78. 311,683 shares of the stock traded hands, compared to its average volume of 759,671. The stock has a market cap of $34.63 billion, a P/E ratio of 25.51, a PEG ratio of 3.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 1.57. Old Dominion Freight Line, Inc. has a twelve month low of $231.70 and a twelve month high of $381.81. The company has a fifty day moving average price of $324.37 and a two-hundred day moving average price of $319.84.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The transportation company reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.11). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Old Dominion Freight Line had a net margin of 21.96% and a return on equity of 37.55%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 10.85 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $1.60 annualized dividend and a yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 13.16%.

Analysts Set New Price Targets

A number of research analysts have recently commented on ODFL shares. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $386.00 to $350.00 in a report on Thursday, April 27th. Wolfe Research raised their price target on Old Dominion Freight Line from $291.00 to $326.00 and gave the company an “underperform” rating in a report on Thursday, February 2nd. UBS Group raised their price target on Old Dominion Freight Line from $284.00 to $388.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. Susquehanna lowered their price target on Old Dominion Freight Line from $326.00 to $310.00 in a report on Thursday, April 27th. Finally, Deutsche Bank Aktiengesellschaft raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and raised their price target for the company from $301.00 to $350.00 in a report on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $333.89.

Insider Buying and Selling

In related news, SVP David J. Bates sold 1,208 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $344.71, for a total value of $416,409.68. Following the completion of the sale, the senior vice president now directly owns 14,082 shares in the company, valued at approximately $4,854,206.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.40% of the company’s stock.

About Old Dominion Freight Line

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Old Dominion Freight Line, Inc engages in the provision of regional, inter-regional, and national less-than-truckload services through a single integrated, union-free organization. Its services include container drayage, truckload brokerage, and supply chain consulting. The company was founded by Earl Congdon Sr.