Corient Capital Partners LLC Lowers Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Corient Capital Partners LLC decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) by 32.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,832 shares of the transportation company’s stock after selling 1,331 shares during the quarter. Corient Capital Partners LLC’s holdings in Old Dominion Freight Line were worth $726,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Tcwp LLC purchased a new position in Old Dominion Freight Line during the first quarter worth approximately $26,000. Canton Hathaway LLC purchased a new position in Old Dominion Freight Line during the second quarter worth approximately $26,000. CoreCap Advisors LLC purchased a new position in Old Dominion Freight Line during the second quarter worth approximately $29,000. Glassman Wealth Services boosted its position in Old Dominion Freight Line by 105.3% during the second quarter. Glassman Wealth Services now owns 117 shares of the transportation company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in Old Dominion Freight Line during the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 73.48% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $297.03 on Thursday. The business has a fifty day moving average of $272.36 and a two-hundred day moving average of $270.95. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The stock has a market cap of $32.82 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06. Old Dominion Freight Line, Inc. has a 52-week low of $231.31 and a 52-week high of $373.58.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, December 6th. This represents a $1.20 annualized dividend and a yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 10.28%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Vertical Research downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating and set a $260.00 price target on the stock. in a research report on Wednesday, August 17th. Wells Fargo & Company increased their target price on Old Dominion Freight Line from $300.00 to $305.00 and gave the company an “overweight” rating in a report on Thursday, October 27th. Raymond James increased their target price on Old Dominion Freight Line from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, October 27th. Cowen increased their target price on Old Dominion Freight Line to $267.00 in a report on Thursday, October 27th. Finally, StockNews.com assumed coverage on Old Dominion Freight Line in a report on Wednesday, October 12th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $296.25.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 32,000 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $313.95, for a total transaction of $10,046,400.00. Following the completion of the sale, the chairman now owns 858,861 shares of the company’s stock, valued at $269,639,410.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.30% of the stock is owned by insiders.

About Old Dominion Freight Line

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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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

See Also

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

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