Old Dominion Freight Line (ODFL) Shares Sold by RMB Capital Management LLC

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RMB Capital Management LLC lessened its stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,179 shares of the transportation company’s stock after selling 106 shares during the quarter. RMB Capital Management LLC’s holdings in Old Dominion Freight Line were worth $2,986,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. TD Asset Management Inc. increased its stake in shares of Old Dominion Freight Line by 2.5% during the fourth quarter. TD Asset Management Inc. now owns 3,519 shares of the transportation company’s stock valued at $435,000 after acquiring an additional 86 shares during the period. JOYN Advisors Inc. increased its stake in shares of Old Dominion Freight Line by 58.2% during the fourth quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 110 shares during the period. Cim LLC increased its stake in shares of Old Dominion Freight Line by 2.8% during the fourth quarter. Cim LLC now owns 4,514 shares of the transportation company’s stock valued at $557,000 after acquiring an additional 125 shares during the period. Advisor Partners LLC increased its stake in shares of Old Dominion Freight Line by 6.8% during the fourth quarter. Advisor Partners LLC now owns 2,200 shares of the transportation company’s stock valued at $272,000 after acquiring an additional 140 shares during the period. Finally, Intrust Bank NA increased its stake in shares of Old Dominion Freight Line by 8.7% during the fourth quarter. Intrust Bank NA now owns 2,455 shares of the transportation company’s stock valued at $303,000 after acquiring an additional 197 shares during the period. Institutional investors and hedge funds own 71.29% of the company’s stock.

In related 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 value of $296,239.84. Following the completion of the transaction, the senior vice president now owns 6,027 shares of the company’s stock, valued at approximately $915,139.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.00% of the company’s stock.

Old Dominion Freight Line stock opened at $147.70 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.14 and a beta of 1.45. Old Dominion Freight Line has a 1 year low of $115.00 and a 1 year high of $170.22.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, February 7th. The transportation company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.21. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 23.90%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.39 earnings per share. Sell-side analysts predict that Old Dominion Freight Line will post 7.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be paid a $0.17 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $0.68 dividend on an annualized basis and a yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.21%.

A number of research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a research note on Monday. Bank of America lowered shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $154.00 to $158.00 in a research report on Tuesday, February 26th. KeyCorp lifted their price target on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 8th. Cowen lifted their price target on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the stock a “market perform” rating in a research report on Thursday, February 7th. Finally, BidaskClub upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $147.82.

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Old Dominion Freight Line 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 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.

See Also: 12b-1 Fees

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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