Rossby Financial LCC Acquires New Holdings in Old Dominion Freight Line, Inc. $ODFL

Rossby Financial LCC acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 170 shares of the transportation company’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after purchasing an additional 416,097 shares during the last quarter. Invesco Ltd. raised its stake in shares of Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock valued at $706,841,000 after acquiring an additional 53,079 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Old Dominion Freight Line by 79.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock valued at $430,006,000 after acquiring an additional 1,151,221 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Old Dominion Freight Line by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Old Dominion Freight Line by 11.4% in the first quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock worth $232,955,000 after purchasing an additional 145,058 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.0%

ODFL opened at $136.13 on Thursday. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $143.49 and a 200-day moving average of $153.70. The stock has a market cap of $28.61 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the company posted $1.43 earnings per share. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ODFL shares. Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group increased their price objective on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the company a “neutral” rating in a report on Monday, August 4th. Evercore ISI decreased their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating for the company in a report on Tuesday, September 30th. Finally, Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $161.62.

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.