Salem Investment Counselors Inc. Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Salem Investment Counselors Inc. raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 51.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200 shares of the transportation company’s stock after purchasing an additional 68 shares during the period. Salem Investment Counselors Inc.’s holdings in Old Dominion Freight Line were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Old Dominion Freight Line by 97.6% in the 1st quarter. International Assets Investment Management LLC now owns 3,438 shares of the transportation company’s stock valued at $750,000 after purchasing an additional 1,698 shares during the last quarter. Douglas Lane & Associates LLC grew its position in shares of Old Dominion Freight Line by 85.4% in the 1st quarter. Douglas Lane & Associates LLC now owns 964 shares of the transportation company’s stock valued at $211,000 after buying an additional 444 shares during the last quarter. Central Bank & Trust Co. grew its position in shares of Old Dominion Freight Line by 97.7% in the 1st quarter. Central Bank & Trust Co. now owns 32,338 shares of the transportation company’s stock valued at $7,092,000 after buying an additional 15,977 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of Old Dominion Freight Line by 98.2% in the 1st quarter. Congress Asset Management Co. MA now owns 424,665 shares of the transportation company’s stock valued at $93,133,000 after buying an additional 210,354 shares during the last quarter. Finally, Rockland Trust Co. grew its position in shares of Old Dominion Freight Line by 96.5% in the 1st quarter. Rockland Trust Co. now owns 2,498 shares of the transportation company’s stock valued at $548,000 after buying an additional 1,227 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ODFL has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a research note on Thursday, June 6th. UBS Group raised their price objective on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Barclays dropped their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. Baird R W upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, TD Cowen dropped their target price on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $204.97.

Old Dominion Freight Line Trading Up 0.1 %

Shares of ODFL stock opened at $174.89 on Monday. The stock has a market cap of $38.00 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a fifty-two week low of $162.77 and a fifty-two week high of $227.80. The firm’s 50 day moving average price is $182.99 and its two-hundred day moving average price is $200.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.98 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Old Dominion Freight Line 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.