Caxton Associates LLP Makes New Investment in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Caxton Associates LLP has acquired a new stake in Old Dominion Freight Line, purchasing 15,813 shares valued at approximately $2.6 million in the first quarter.
• The company reported a net margin of 19.42% and revenue of $1.41 billion in its last quarterly earnings, missing analysts' estimates.
• A quarterly dividend of $0.28 will be paid on September 17th, representing a dividend yield of 0.7% for shareholders on record from September 3rd.

Caxton Associates LLP purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,813 shares of the transportation company's stock, valued at approximately $2,616,000.

Several other large investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp raised its stake in shares of Old Dominion Freight Line by 2,463.4% during the first quarter. Jones Financial Companies Lllp now owns 69,982 shares of the transportation company's stock worth $11,579,000 after acquiring an additional 67,252 shares in the last quarter. UniSuper Management Pty Ltd increased its position in Old Dominion Freight Line by 9.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 18,381 shares of the transportation company's stock valued at $3,041,000 after purchasing an additional 1,527 shares during the period. Polar Asset Management Partners Inc. bought a new position in Old Dominion Freight Line in the 1st quarter worth $1,495,000. Nissay Asset Management Corp Japan ADV lifted its position in shares of Old Dominion Freight Line by 9.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 49,855 shares of the transportation company's stock worth $8,249,000 after purchasing an additional 4,511 shares during the period. Finally, Eventide Asset Management LLC boosted its stake in shares of Old Dominion Freight Line by 8.1% during the 1st quarter. Eventide Asset Management LLC now owns 576,488 shares of the transportation company's stock valued at $95,375,000 after purchasing an additional 43,228 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Down 1.3%

Old Dominion Freight Line stock traded down $1.91 during mid-day trading on Wednesday, reaching $146.31. The stock had a trading volume of 1,199,169 shares, compared to its average volume of 1,782,212. The company has a market capitalization of $30.75 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.44 and a beta of 1.23. The company has a 50-day moving average price of $155.80 and a two-hundred day moving average price of $160.23. Old Dominion Freight Line, Inc. has a one year low of $140.71 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. The business's revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line's payout ratio is 21.88%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ODFL shares. Barclays set a $155.00 price target on shares of Old Dominion Freight Line and gave the stock an "equal weight" rating in a research note 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 company a "neutral" rating in a research note on Monday, August 4th. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a research note on Thursday, July 31st. Finally, Bank of America raised their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average target price of $167.14.

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.