William Blair Investment Management Lowers stake in Old Dominion Freight Line (ODFL)

Old Dominion Freight Line (ODFL) : William Blair Investment Management reduced its stake in Old Dominion Freight Line by 9.24% during the most recent quarter end. The investment management company now holds a total of 4,400,898 shares of Old Dominion Freight Line which is valued at $308,458,941 after selling 448,302 shares in Old Dominion Freight Line , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Old Dominion Freight Line makes up approximately 1.14% of William Blair Investment Management’s portfolio.

Other Hedge Funds, Including , Spf Beheer Bv reduced its stake in ODFL by selling 51,654 shares or 5.16% in the most recent quarter. The Hedge Fund company now holds 949,435 shares of ODFL which is valued at $66,545,899. Old Dominion Freight Line makes up approx 3.39% of Spf Beheer Bv’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in ODFL in the latest quarter, The investment management firm added 5,608 additional shares and now holds a total of 68,915 shares of Old Dominion Freight Line which is valued at $4,868,845. Old Dominion Freight Line makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio.Cornerstone Advisors reduced its stake in ODFL by selling 158 shares or 23.41% in the most recent quarter. The Hedge Fund company now holds 517 shares of ODFL which is valued at $35,032. Old Dominion Freight Line makes up approx 0.03% of Cornerstone Advisors’s portfolio. Simplex Trading sold out all of its stake in ODFL during the most recent quarter. The investment firm sold 280 shares of ODFL which is valued $18,138. Arcadia Investment Management Corpmi added ODFL to its portfolio by purchasing 652 company shares during the most recent quarter which is valued at $42,400. Old Dominion Freight Line makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.

Old Dominion Freight Line opened for trading at $69.48 and hit $70.215 on the upside on Monday, eventually ending the session at $69.76, with a gain of 0.56% or 0.39 points. The heightened volatility saw the trading volume jump to 3,19,299 shares. Company has a market cap of $5,780 M.

On the company’s financial health, Old Dominion Freight Line reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.95. The company had revenue of $755.40 million for the quarter, compared to analysts expectations of $753.31 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on Old Dominion Freight Line. Company shares were Reiterated by Cowen on Jul 28, 2016 to “Market Perform”, Firm has raised the Price Target to $ 73 from a previous price target of $63 .

Old Dominion Freight Line Inc. (Old Dominion) is a less-than-truckload (LTL) motor carrier providing regional inter-regional and national LTL service and logistics services. In addition to its LTL services it offers a range of services including international freight forwarding ground and air expedited transportation container delivery truckload brokerage supply chain consulting warehousing and consumer household pickup and delivery. Its infrastructure allows it to provide next-day and second-day service within each of its six regions covering the continental United States as well as inter-regional and national service between these regions. As of December 31 2014 it operated through 222 service center locations of which it owned 176 and leased 46. As of December 31 2014 it owned 6907 tractors. As of December 31 2014 it owned 27259 trailers.

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