Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Lifted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 401.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 187,684 shares of the transportation company’s stock after purchasing an additional 150,227 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.09% of Old Dominion Freight Line worth $32,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp raised its position in shares of Old Dominion Freight Line by 22.5% during the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after buying an additional 27 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Old Dominion Freight Line by 1.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after acquiring an additional 30 shares in the last quarter. Partners Capital Investment Group LLP increased its stake in shares of Old Dominion Freight Line by 6.1% during the fourth quarter. Partners Capital Investment Group LLP now owns 697 shares of the transportation company’s stock valued at $283,000 after acquiring an additional 40 shares during the period. Gulf International Bank UK Ltd raised its holdings in Old Dominion Freight Line by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock worth $1,858,000 after purchasing an additional 47 shares in the last quarter. Finally, STF Management LP lifted its position in Old Dominion Freight Line by 2.7% in the fourth quarter. STF Management LP now owns 1,850 shares of the transportation company’s stock worth $750,000 after purchasing an additional 49 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Up 0.7 %

NASDAQ:ODFL opened at $192.61 on Friday. The stock has a market cap of $41.85 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The stock’s 50-day moving average is $195.01 and its two-hundred day moving average is $196.48.

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 for the quarter, beating the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Susquehanna dropped their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, June 12th. Morgan Stanley cut their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Evercore ISI reaffirmed an “in-line” rating and issued a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Bank of America cut their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, TD Cowen decreased their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $201.00.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s 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 $282,146,307.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

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.