Ameriprise Financial Inc. Has $232.96 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Ameriprise Financial Inc. increased its stake in Old Dominion Freight Line by 11.4% in the first quarter, owning approximately 1.41 million shares valued at about $232.9 million.
• In addition to Ameriprise, other large investors have increased their positions, including T. Rowe Price which grew its holdings by 79.5% during the same period.
• Old Dominion reported a miss in quarterly earnings with $1.27 per share against the consensus estimate of $1.29, and a revenue decline of 6.1% year-over-year.

Ameriprise Financial Inc. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,412,698 shares of the transportation company's stock after purchasing an additional 145,058 shares during the period. Ameriprise Financial Inc. owned 0.67% of Old Dominion Freight Line worth $232,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position 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 worth $514,000 after purchasing an additional 1,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position 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 worth $2,911,000 after purchasing an additional 1,529 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position 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 worth $2,716,000 after purchasing an additional 7,439 shares during the last quarter. Bayesian Capital Management LP boosted its position 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 worth $1,588,000 after purchasing an additional 7,700 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Old Dominion Freight Line by 5.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company's stock worth $1,507,000 after purchasing an additional 443 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a report on Thursday, July 31st. JPMorgan Chase & Co. reduced their target price on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the stock a "neutral" rating in a report on Monday, August 4th. UBS Group reduced their target price on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Finally, Stephens reduced their target price on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $167.62.

Old Dominion Freight Line Stock Down 0.4%

Shares of NASDAQ:ODFL traded down $0.63 during trading on Wednesday, hitting $153.86. 1,014,256 shares of the company were exchanged, compared to its average volume of 1,843,172. The stock has a market cap of $32.34 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 3.60 and a beta of 1.24. Old Dominion Freight Line, Inc. has a fifty-two week low of $140.91 and a fifty-two week high of $233.26. The firm has a fifty day moving average price of $158.38 and a two-hundred day moving average price of $163.94. 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 announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.Old Dominion Freight Line's quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is 21.88%.

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.