Aberdeen Group plc Buys 4,530 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Aberdeen Group plc increased its holdings in Old Dominion Freight Line by 4.0%, acquiring an additional 4,530 shares during the second quarter, bringing its total ownership to approximately $19.2 million.
• Old Dominion Freight Line reported earnings per share of $1.27, missing estimates, with revenue of $1.41 billion reflecting a 6.1% year-over-year decline.
• Institutional investors now own 77.82% of Old Dominion Freight Line’s stock, indicating strong institutional interest in the transportation company.

Aberdeen Group plc raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 118,225 shares of the transportation company's stock after acquiring an additional 4,530 shares during the period. Aberdeen Group plc owned approximately 0.06% of Old Dominion Freight Line worth $19,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. PDS Planning Inc lifted its stake in Old Dominion Freight Line by 21.5% during the 2nd quarter. PDS Planning Inc now owns 1,605 shares of the transportation company's stock valued at $260,000 after acquiring an additional 284 shares during the period. Blue Trust Inc. lifted its stake in Old Dominion Freight Line by 65.5% during the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company's stock valued at $67,000 after acquiring an additional 163 shares during the period. Callan Family Office LLC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $610,000. Shell Asset Management Co. increased its position in shares of Old Dominion Freight Line by 36.4% during the 2nd quarter. Shell Asset Management Co. now owns 10,405 shares of the transportation company's stock valued at $1,689,000 after purchasing an additional 2,775 shares during the last quarter. Finally, Roundview Capital LLC increased its position in shares of Old Dominion Freight Line by 67.0% during the 2nd quarter. Roundview Capital LLC now owns 11,402 shares of the transportation company's stock valued at $1,851,000 after purchasing an additional 4,575 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 1.4%

Old Dominion Freight Line stock opened at $136.18 on Tuesday. The firm has a 50 day moving average of $146.23 and a 200 day moving average of $155.41. The firm has a market capitalization of $28.62 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 3.15 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 12-month low of $133.69 and a 12-month high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04.

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 (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company's revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 earnings per share. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group reduced their price target on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, October 9th. Barclays reduced their price target on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. Stifel Nicolaus reduced their price target on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Wolfe Research upped their price target on shares of Old Dominion Freight Line from $129.00 to $140.00 in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $164.09.

About Old Dominion Freight Line

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.

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