Tributary Capital Management LLC Trims Holdings in Old Dominion Freight Line (NASDAQ:ODFL)

Tributary Capital Management LLC lowered its stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,900 shares of the transportation company’s stock after selling 1,200 shares during the quarter. Tributary Capital Management LLC’s holdings in Old Dominion Freight Line were worth $1,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. TD Asset Management Inc. increased its holdings in Old Dominion Freight Line by 2.5% in the 4th quarter. TD Asset Management Inc. now owns 3,519 shares of the transportation company’s stock worth $435,000 after buying an additional 86 shares during the period. JOYN Advisors Inc. increased its holdings in Old Dominion Freight Line by 58.2% in the 4th quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock worth $37,000 after buying an additional 110 shares during the period. Malaga Cove Capital LLC increased its holdings in Old Dominion Freight Line by 1.8% in the 1st quarter. Malaga Cove Capital LLC now owns 6,639 shares of the transportation company’s stock worth $959,000 after buying an additional 120 shares during the period. Cim LLC increased its holdings in Old Dominion Freight Line by 2.8% in the 4th quarter. Cim LLC now owns 4,514 shares of the transportation company’s stock worth $557,000 after buying an additional 125 shares during the period. Finally, Advisor Partners LLC increased its holdings in Old Dominion Freight Line by 6.8% in the 4th quarter. Advisor Partners LLC now owns 2,200 shares of the transportation company’s stock worth $272,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 72.33% of the company’s stock.

ODFL has been the topic of a number of analyst reports. KeyCorp raised their price objective on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 8th. Credit Suisse Group restated a “buy” rating and issued a $147.00 price objective on shares of Old Dominion Freight Line in a report on Tuesday, January 15th. Bank of America lowered Old Dominion Freight Line from a “buy” rating to a “neutral” rating and raised their price objective for the company from $154.00 to $158.00 in a report on Tuesday, February 26th. Cowen raised their price objective on Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a report on Thursday, February 7th. Finally, BidaskClub upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $149.20.

Shares of NASDAQ ODFL traded up $0.18 during trading on Friday, hitting $146.38. 527,331 shares of the company were exchanged, compared to its average volume of 532,509. Old Dominion Freight Line has a 12-month low of $115.00 and a 12-month high of $170.22. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 0.02. The firm has a market cap of $11.83 billion, a PE ratio of 19.83, a P/E/G ratio of 2.13 and a beta of 1.43.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The firm had revenue of $990.78 million during the quarter, compared to the consensus estimate of $1 billion. Old Dominion Freight Line had a return on equity of 23.87% and a net margin of 15.32%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. Research analysts expect that Old Dominion Freight Line will post 7.97 EPS for the current year.

In related news, SVP David J. Bates sold 1,951 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $151.84, for a total transaction of $296,239.84. Following the completion of the sale, the senior vice president now directly owns 6,027 shares of the company’s stock, valued at approximately $915,139.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.00% of the stock is currently owned by company insiders.

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

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

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