Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,130 shares of the transportation company’s stock after selling 3,649 shares during the period. Segall Bryant & Hamill LLC’s holdings in Old Dominion Freight Line were worth $26,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its stake in Old Dominion Freight Line by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after buying an additional 55 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Old Dominion Freight Line by 35.6% during the third quarter. Raymond James Trust N.A. now owns 4,087 shares of the transportation company’s stock worth $812,000 after buying an additional 1,072 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at about $241,000. Cerity Partners LLC raised its holdings in Old Dominion Freight Line by 64.1% in the 3rd quarter. Cerity Partners LLC now owns 32,110 shares of the transportation company’s stock valued at $6,378,000 after acquiring an additional 12,537 shares during the last quarter. Finally, Centaurus Financial Inc. lifted its stake in Old Dominion Freight Line by 3.1% in the 3rd quarter. Centaurus Financial Inc. now owns 3,782 shares of the transportation company’s stock worth $751,000 after purchasing an additional 113 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock opened at $170.05 on Tuesday. The stock has a market cap of $36.14 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.89 and a beta of 1.10. Old Dominion Freight Line, Inc. has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $184.20 and a 200 day moving average price of $194.17.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ODFL shares. Citigroup lowered their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Evercore ISI upped their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Truist Financial initiated coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a “buy” rating and a $220.00 price target on the stock. Finally, Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price target for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $202.65.

About Old Dominion Freight Line

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.