Ameriprise Financial Inc. Grows Position in Old Dominion Freight Line, Inc. $ODFL

Ameriprise Financial Inc. raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,412,698 shares of the transportation company’s stock after purchasing an additional 145,058 shares during the quarter. Ameriprise Financial Inc.’s holdings in Old Dominion Freight Line were worth $232,955,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after buying an additional 108 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Old Dominion Freight Line during the first quarter worth $30,000. Wayfinding Financial LLC purchased a new stake in shares of Old Dominion Freight Line during the first quarter worth $39,000. Zions Bancorporation National Association UT purchased a new stake in shares of Old Dominion Freight Line during the first quarter worth $39,000. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 192 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ODFL shares. The Goldman Sachs Group raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and upped their price objective for the company from $190.00 to $200.00 in a report on Monday, June 2nd. Raymond James Financial dropped their price objective on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, July 8th. Wells Fargo & Company dropped their price objective on shares of 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. Finally, Bank of America upped their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Eight research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $167.62.

Old Dominion Freight Line Trading Up 6.3%

Shares of ODFL stock opened at $159.13 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $33.44 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 3.47 and a beta of 1.24. The company has a 50-day moving average of $158.50 and a two-hundred day moving average of $164.71. Old Dominion Freight Line, Inc. has a 1-year low of $140.91 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. On average, 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 announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 21.88%.

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.