19,512 Shares in Old Dominion Freight Line, Inc. $ODFL Acquired by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 19,512 Old Dominion Freight Line shares worth approximately $4.23 million in the second quarter. Institutional investors now own 77.82% of the company.
• Old Dominion exceeded quarterly expectations with $1.68 in EPS and $1.55 billion in revenue, while revenue increased 10.4% year over year. Analysts expect $5.78 in EPS for the current fiscal year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $226.55 price target. The company also declared a quarterly dividend of $0.29 per share, representing a 0.6% yield.

B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,512 shares of the transportation company's stock, valued at approximately $4,226,000.

A number of other large investors also recently modified their holdings of ODFL. BlackRock Inc. acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $3,416,007,000. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $444,983,000. Bank of New York Mellon Corp acquired a new position in Old Dominion Freight Line during the second quarter valued at $543,289,000. Boston Partners acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth approximately $292,599,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Old Dominion Freight Line by 14.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company's stock worth $2,230,318,000 after purchasing an additional 1,761,511 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ODFL. Stephens reissued an "overweight" rating and set a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. TD Cowen reaffirmed a "hold" rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Stifel Nicolaus set a $263.00 target price on shares of Old Dominion Freight Line and gave the company a "buy" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a "neutral" rating in a research report on Monday, June 8th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $226.55.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $206.47 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The business's 50 day simple moving average is $220.21 and its 200 day simple moving average is $210.45. The company has a market capitalization of $42.81 billion, a P/E ratio of 39.78, a P/E/G ratio of 3.55 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.14. The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 earnings per share. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 22.35%.

About Old Dominion Freight Line

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.

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