AG2R LA Mondiale Gestion D Actifs Invests $1.28 Million in Old Dominion Freight Line, Inc. $ODFL

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 8,006 shares of Old Dominion Freight Line, Inc. for approximately $1.28 million, marking a new investment in the transportation sector.
• Old Dominion Freight Line's latest quarterly earnings report showed a net margin of 19.42% and a significant revenue decline of 6.1% compared to the last year, with earnings per share of $1.27 falling slightly short of analysts' expectations.
• The company has declared a quarterly dividend of $0.28 per share, representing an annualized yield of 0.8%, which reflects a dividend payout ratio of 21.88%.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,006 shares of the transportation company's stock, valued at approximately $1,282,000.

Several other large investors have also made changes to their positions in the company. Fifth Third Wealth Advisors LLC lifted its holdings in Old Dominion Freight Line by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company's stock worth $268,000 after purchasing an additional 71 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Old Dominion Freight Line by 3.1% in the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company's stock worth $392,000 after purchasing an additional 71 shares during the last quarter. City Holding Co. lifted its holdings in Old Dominion Freight Line by 1.1% in the 1st quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock worth $1,175,000 after purchasing an additional 75 shares during the last quarter. Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. lifted its holdings in Old Dominion Freight Line by 5.4% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company's stock worth $258,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 1.1%

NASDAQ:ODFL traded down $1.55 during mid-day trading on Friday, hitting $140.84. The company had a trading volume of 4,264,082 shares, compared to its average volume of 1,753,899. Old Dominion Freight Line, Inc. has a fifty-two week low of $140.09 and a fifty-two week high of $233.26. The business's fifty day moving average is $152.42 and its two-hundred day moving average is $158.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $29.60 billion, a P/E ratio of 27.51, a P/E/G ratio of 3.31 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released 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). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $1.48 EPS. The company's quarterly revenue was down 6.1% compared to the same quarter last year. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line's dividend payout ratio is presently 21.88%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group reduced their target price on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Stifel Nicolaus reduced their target price on Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, July 31st. The Goldman Sachs Group upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and upped their price target for the stock from $190.00 to $200.00 in a report on Monday, June 2nd. Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Finally, TD Cowen cut their target price on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and an average price target of $166.95.

Old Dominion Freight Line Company 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.