15,000 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Bought by Shellback Capital LP

Shellback Capital LP acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,000 shares of the transportation company’s stock, valued at approximately $2,649,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ODFL. Benjamin Edwards Inc. purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $25,000. Trust Co. of Vermont purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. lifted its position in shares of Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Atwood & Palmer Inc. lifted its position in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ODFL shares. Barclays cut their price objective on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 12th. Stephens reiterated an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Morgan Stanley lowered their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Susquehanna lifted their price objective on Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Wednesday, September 18th. Finally, TD Cowen reduced their target price on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $201.83.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $195.33 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $196.20 and its two-hundred day moving average price is $195.25. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The stock has a market capitalization of $42.44 billion, a P/E ratio of 34.39, a P/E/G ratio of 4.08 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.62 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.26 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Company Profile

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.