Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by City Holding Co.

City Holding Co. grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,466 shares of the transportation company’s stock after buying an additional 306 shares during the period. City Holding Co.’s holdings in Old Dominion Freight Line were worth $541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ODFL. Fortitude Family Office LLC purchased a new stake in Old Dominion Freight Line during the 4th quarter worth $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $29,000. Headinvest LLC acquired a new position in Old Dominion Freight Line during the 3rd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $34,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ODFL shares. Barclays reduced their price target on 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. Robert W. Baird raised shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a research report on Wednesday, May 8th. Baird R W raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Bank of America cut their target price on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $202.71.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL traded up $3.31 during mid-day trading on Monday, reaching $178.20. 196,126 shares of the company traded hands, compared to its average volume of 1,575,434. Old Dominion Freight Line, Inc. has a fifty-two week low of $163.30 and a fifty-two week high of $227.80. The firm has a market cap of $38.72 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. The stock has a fifty day simple moving average of $182.99 and a 200-day simple moving average of $200.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

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

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

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.