Aberdeen Group plc Has $18.76 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Aberdeen Group plc significantly increased its stake in Old Dominion Freight Line, raising its holdings by 104.0% to a total of 113,695 shares valued at approximately $18.76 million.
• Old Dominion Freight Line's latest earnings report revealed an EPS of $1.27, falling short of the estimated $1.29, with revenue also down 6.1% year-over-year.
• The company announced a quarterly dividend of $0.28 per share, with an ex-dividend date set for September 3rd, contributing to a 0.7% yield for investors.

Aberdeen Group plc raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 104.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,695 shares of the transportation company's stock after acquiring an additional 57,962 shares during the quarter. Aberdeen Group plc owned approximately 0.05% of Old Dominion Freight Line worth $18,763,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in shares of Old Dominion Freight Line by 2.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock worth $223,281,000 after acquiring an additional 35,778 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Old Dominion Freight Line by 48.7% in the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock valued at $514,000 after buying an additional 1,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Old Dominion Freight Line by 9.5% in 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 buying an additional 1,529 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Old Dominion Freight Line by 93.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,396 shares of the transportation company's stock valued at $2,716,000 after buying an additional 7,439 shares during the last quarter. Finally, Bayesian Capital Management LP boosted its holdings in shares of Old Dominion Freight Line by 592.3% in the 4th quarter. Bayesian Capital Management LP now owns 9,000 shares of the transportation company's stock valued at $1,588,000 after buying an additional 7,700 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded up $9.38 during trading on Friday, hitting $159.13. The company had a trading volume of 1,962,314 shares, compared to its average volume of 2,233,569. 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 capitalization of $33.44 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 3.47 and a beta of 1.24. The stock's 50-day moving average price is $158.50 and its 200 day moving average price is $164.71. Old Dominion Freight Line, Inc. has a one year low of $140.91 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 earnings per share. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS 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 17th. Investors of record on Wednesday, September 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is 21.88%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ODFL shares. Stephens cut their price objective on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. UBS Group cut their price objective 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. Baird R W raised Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Benchmark reaffirmed a "hold" rating and set a $102.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $167.62.

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.