Bank Julius Baer & Co. Ltd Zurich Invests $4.89 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 29,296 shares of the transportation company's stock, valued at approximately $4,885,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock worth $870,311,000 after acquiring an additional 96,410 shares during the period. Norges Bank acquired a new position in Old Dominion Freight Line during the 4th quarter worth $494,916,000. Capital World Investors grew its stake in Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock worth $442,784,000 after purchasing an additional 27,367 shares in the last quarter. Northern Trust Corp increased its holdings in Old Dominion Freight Line by 15.2% during the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after purchasing an additional 261,305 shares during the period. Finally, First Trust Advisors LP raised its position in Old Dominion Freight Line by 13.6% in the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock valued at $272,969,000 after purchasing an additional 185,500 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Ratings Changes

ODFL has been the topic of a number of recent research reports. Bank of America upped their target price on shares of 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. Wells Fargo & Company increased their price objective on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the company an "underweight" rating in a research report on Monday, July 7th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Evercore ISI lowered their target price on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research note on Thursday, April 24th. Finally, Susquehanna dropped their target price on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and an average price target of $174.85.

Old Dominion Freight Line Stock Performance

Shares of ODFL traded down $0.70 during mid-day trading on Friday, reaching $167.09. 1,747,264 shares of the company's stock were exchanged, compared to its average volume of 1,615,868. The business's fifty day simple moving average is $163.55 and its 200-day simple moving average is $169.60. The stock has a market capitalization of $35.31 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 3.37 and a beta of 1.25. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. Old Dominion Freight Line's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.

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.