Sanctuary Advisors LLC Purchases New Position in Old Dominion Freight Line, Inc. $ODFL

Sanctuary Advisors LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, HoldingsChannel.com reports. The firm acquired 57,635 shares of the transportation company’s stock, valued at approximately $12,484,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bell Investment Advisors Inc bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth $25,000. Solstein Capital LLC purchased a new position in shares of Old Dominion Freight Line in the second quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. Reflection Asset Management bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $28,000. Finally, Evolution Wealth Management Inc. bought a new position in shares of Old Dominion Freight Line during the first quarter valued at $29,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock opened at $206.47 on Monday. The company has a market cap of $42.81 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 3.59 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The stock’s fifty day moving average price is $220.21 and its 200-day moving average price is $210.63.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.54 by $0.14. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.Old Dominion Freight Line’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s payout ratio is currently 22.35%.

Analysts Set New Price Targets

Several research firms recently commented on ODFL. Argus lifted their price objective on Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Weiss Ratings upgraded shares of Old Dominion Freight Line from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Stephens reaffirmed an “overweight” rating and set a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Wall Street Zen raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $227.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $226.55.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.