Aberdeen Group plc Increases Stake in Old Dominion Freight Line, Inc. $ODFL

Aberdeen Group plc raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 118,225 shares of the transportation company’s stock after acquiring an additional 4,530 shares during the period. Aberdeen Group plc’s holdings in Old Dominion Freight Line were worth $19,188,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ODFL. Brighton Jones LLC boosted its position in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock valued at $514,000 after acquiring an additional 1,018 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Old Dominion Freight Line by 1.4% during the 1st quarter. Fifth Third Bancorp now owns 8,682 shares of the transportation company’s stock valued at $1,436,000 after acquiring an additional 118 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Old Dominion Freight Line by 9.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock valued at $2,911,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Old Dominion Freight Line by 25.5% during the 1st quarter. Ritholtz Wealth Management now owns 16,416 shares of the transportation company’s stock valued at $2,716,000 after acquiring an additional 3,336 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ODFL shares. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Monday, August 4th. Jefferies Financial Group lowered their target price on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, October 9th. UBS Group increased their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Evercore ISI lowered their target price on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating for the company in a research report on Tuesday, September 30th. Finally, Stephens lowered their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $164.09.

Old Dominion Freight Line Stock Up 1.4%

Shares of ODFL opened at $136.18 on Tuesday. 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 business has a fifty day moving average of $146.23 and a 200 day moving average of $155.41. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26. The company has a market cap of $28.62 billion, a PE ratio of 26.60, a P/E/G ratio of 3.15 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business earned $1.48 EPS. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

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.