29,682 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,682 shares of the transportation company's stock, valued at approximately $4,911,000.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Old Dominion Freight Line during the 4th quarter worth about $494,916,000. T. Rowe Price Investment Management Inc. raised its holdings in Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after acquiring an additional 1,361,397 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Raymond James Financial Inc. acquired a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $114,449,000. Finally, Thrivent Financial for Lutherans grew its stake in Old Dominion Freight Line by 92.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock valued at $210,856,000 after purchasing an additional 573,586 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded down $2.23 during mid-day trading on Friday, reaching $160.18. 1,530,714 shares of the company's stock were exchanged, compared to its average volume of 1,640,333. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The business's fifty day simple moving average is $159.53 and its two-hundred day simple moving average is $176.20. The firm has a market capitalization of $33.85 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.89 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the firm earned $1.34 earnings per share. The business's revenue for the quarter was down 5.8% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. Old Dominion Freight Line's payout ratio is 21.01%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America upped their price objective on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. The Goldman Sachs Group raised shares of 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 research report on Monday, June 2nd. Wall Street Zen raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Barclays lowered their price objective on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Stephens reiterated an "overweight" rating and issued a $180.00 target price (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $176.50.

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.