MetLife Investment Advisors LLC trimmed its holdings in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,162 shares of the transportation company’s stock after selling 2,718 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $6,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Stratos Wealth Partners LTD. acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth about $120,000. Signaturefd LLC lifted its position in Old Dominion Freight Line by 2,308.6% during the 2nd quarter. Signaturefd LLC now owns 843 shares of the transportation company’s stock worth $126,000 after acquiring an additional 808 shares during the period. Gradient Investments LLC acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth about $137,000. Harvest Fund Management Co. Ltd acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth about $142,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Old Dominion Freight Line during the 2nd quarter worth about $145,000. Hedge funds and other institutional investors own 72.18% of the company’s stock.
A number of analysts have commented on ODFL shares. Bank of America lifted their price target on Old Dominion Freight Line from $139.00 to $143.00 and gave the stock an “underperform” rating in a research report on Thursday, August 30th. Buckingham Research lowered their price target on Old Dominion Freight Line from $162.00 to $154.00 and set a “neutral” rating for the company in a research report on Friday, October 12th. Morgan Stanley cut Old Dominion Freight Line from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $160.00 to $146.00 in a research report on Monday, October 22nd. BidaskClub raised Old Dominion Freight Line from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Finally, Argus lowered their price target on Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $144.58.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, October 25th. The transportation company reported $2.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.15. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Old Dominion Freight Line had a return on equity of 22.13% and a net margin of 16.47%. As a group, equities research analysts expect that Old Dominion Freight Line will post 7.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 0.41%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 11.93%.
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Old Dominion Freight Line Company 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.
Further Reading: Earnings Per Share (EPS) Explained
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