Sentry Investment Management LLC Decreases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sentry Investment Management LLC decreased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 671 shares of the transportation company’s stock after selling 109 shares during the quarter. Sentry Investment Management LLC’s holdings in Old Dominion Freight Line were worth $118,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $128,221,000. Franklin Resources Inc. increased its position in shares of Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after buying an additional 437,700 shares during the period. State Street Corp increased its position in shares of Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after buying an additional 279,946 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after buying an additional 275,236 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ODFL shares. Evercore ISI boosted their price target on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research report on Thursday, February 6th. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Barclays reduced their price target on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley upped their price objective on shares of 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. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $203.72.

Old Dominion Freight Line Trading Down 2.3 %

Shares of NASDAQ ODFL opened at $175.69 on Thursday. The firm’s 50 day moving average price is $187.92 and its 200-day moving average price is $197.49. The company has a market cap of $37.51 billion, a PE ratio of 32.06, a P/E/G ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data 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%. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. Old Dominion Freight Line’s dividend payout ratio is 18.98%.

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.