9,961 Shares in Old Dominion Freight Line, Inc. $ODFL Acquired by Compass Financial Management LLC

Key Points

• Compass Financial Management acquired 9,961 shares of Old Dominion Freight Line in the second quarter, valued at approximately $2.16 million. Institutional investors collectively own 77.82% of ODFL’s outstanding stock.
• Analysts maintain a consensus “Hold” rating with an average price target of $226.55; ratings include one Strong Buy, nine Buys, thirteen Holds, and two Sells.
• Old Dominion beat quarterly earnings expectations with EPS of $1.68 versus the $1.54 consensus, while revenue rose 10.4% year over year to $1.55 billion. The company also declared a quarterly dividend of $0.29 per share, representing a 0.6% yield.

Compass Financial Management LLC purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,961 shares of the transportation company's stock, valued at approximately $2,158,000.

A number of other institutional investors have also added to or reduced their stakes in ODFL. BlackRock Inc. purchased a new position in Old Dominion Freight Line during the second quarter valued at $3,416,007,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Old Dominion Freight Line by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company's stock valued at $2,230,318,000 after purchasing an additional 1,761,511 shares during the last quarter. State Street Corp grew its position in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. State Street Corp now owns 7,746,286 shares of the transportation company's stock valued at $1,214,618,000 after purchasing an additional 70,736 shares in the last quarter. Boston Partners grew its position in shares of Old Dominion Freight Line by 98.4% during the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company's stock valued at $648,186,000 after purchasing an additional 2,044,434 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Old Dominion Freight Line by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company's stock valued at $577,137,000 after purchasing an additional 365,424 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on ODFL shares. BMO Capital Markets reiterated an "outperform" rating and issued a $230.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. The Goldman Sachs Group restated a "buy" rating and set a $244.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Citigroup reaffirmed a "neutral" rating and issued a $231.00 price objective (up from $228.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. UBS Group reaffirmed a "neutral" rating and set a $228.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Finally, Barclays increased their target price on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an "equal weight" rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus price target of $226.55.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $185.87 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 moving average is $214.60 and its two-hundred day moving average is $210.39. The stock has a market capitalization of $38.54 billion, a P/E ratio of 35.81, a PEG ratio of 3.19 and a beta of 1.16.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.14. The business 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%.The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Insider Transactions at Old Dominion Freight Line

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the completion of the sale, the senior vice president directly owned 22,746 shares in the company, valued at $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

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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