Caprock Group LLC Purchases 7,012 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Caprock Group LLC grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 609.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,162 shares of the transportation company’s stock after acquiring an additional 7,012 shares during the period. Caprock Group LLC’s holdings in Old Dominion Freight Line were worth $1,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ODFL. Vanguard Group Inc. boosted its stake in Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares in the last quarter. Capital Research Global Investors grew its holdings in Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after acquiring an additional 2,447,121 shares during the last quarter. Finally, Capital World Investors increased its position in Old Dominion Freight Line by 101.0% in the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after acquiring an additional 1,228,116 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $189.78 on Tuesday. The company has a fifty day moving average price of $194.31 and a 200 day moving average price of $197.16. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The firm has a market cap of $41.24 billion, a PE ratio of 33.41, a PEG ratio of 3.83 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.50 billion. During the same period last year, the company earned $1.33 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.65 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Ratings Changes

ODFL has been the subject of a number of research reports. BMO Capital Markets raised their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stephens reissued an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Barclays dropped their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Wells Fargo & Company decreased their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. Finally, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $201.00.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, 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.