Royal London Asset Management Ltd. Decreases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Royal London Asset Management Ltd. cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 607,631 shares of the transportation company’s stock after selling 22,042 shares during the quarter. Old Dominion Freight Line makes up approximately 0.7% of Royal London Asset Management Ltd.’s portfolio, making the stock its 28th largest holding. Royal London Asset Management Ltd. owned 0.56% of Old Dominion Freight Line worth $246,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Forthright Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth $289,000. American International Group Inc. boosted its stake in Old Dominion Freight Line by 0.8% in the 4th quarter. American International Group Inc. now owns 37,265 shares of the transportation company’s stock worth $15,105,000 after purchasing an additional 295 shares during the period. Syon Capital LLC grew its holdings in Old Dominion Freight Line by 12.3% during the 4th quarter. Syon Capital LLC now owns 593 shares of the transportation company’s stock valued at $240,000 after buying an additional 65 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $40,000. Finally, Cim LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $2,514,000. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen decreased their target price on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective on the stock. Barclays dropped their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday. BMO Capital Markets began coverage on Old Dominion Freight Line in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 target price on the stock. Finally, UBS Group upped their price objective on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $204.97.

Old Dominion Freight Line Trading Down 0.1 %

Shares of Old Dominion Freight Line stock traded down $0.17 on Friday, hitting $172.74. The stock had a trading volume of 2,149,024 shares, compared to its average volume of 1,981,413. The stock’s 50-day simple moving average is $187.65 and its two-hundred day simple moving average is $201.34. Old Dominion Freight Line, Inc. has a one year low of $158.60 and a one year high of $227.80. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.23 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 6.01 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

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.