Old Dominion Freight Line, Inc. (ODFL) Position Reduced by Clinton Group Inc.

Clinton Group Inc. decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 87.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,325 shares of the transportation company’s stock after selling 16,272 shares during the quarter. Clinton Group Inc.’s holdings in Old Dominion Freight Line were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ODFL. BlackRock Inc. boosted its stake in Old Dominion Freight Line by 11,389.2% in the 1st quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after buying an additional 5,353,843 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Old Dominion Freight Line by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after buying an additional 191,911 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Old Dominion Freight Line by 8.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock valued at $199,998,000 after buying an additional 157,362 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Old Dominion Freight Line by 8.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock valued at $183,182,000 after buying an additional 151,407 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Old Dominion Freight Line by 100.3% in the 1st quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock valued at $25,619,000 after buying an additional 149,951 shares in the last quarter. 73.84% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on ODFL shares. BidaskClub lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 price target on shares of Old Dominion Freight Line in a research note on Friday, July 14th. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the company from $108.00 to $98.00 in a research note on Monday, July 31st. Finally, Morgan Stanley boosted their price target on Old Dominion Freight Line from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $101.25.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) opened at 108.37 on Wednesday. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 28.07 and a beta of 1.09. The firm has a 50-day moving average price of $102.93 and a 200-day moving average price of $94.15. Old Dominion Freight Line, Inc. has a 1-year low of $68.82 and a 1-year high of $110.45.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The company had revenue of $839.90 million for the quarter, compared to analyst estimates of $824.68 million. During the same quarter last year, the company posted $0.98 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts expect that Old Dominion Freight Line, Inc. will post $4.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. Old Dominion Freight Line’s payout ratio is 10.39%.

In other news, Vice Chairman David S. Congdon sold 575 shares of Old Dominion Freight Line stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the transaction, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 12.00% of the company’s stock.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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