Cerity Partners LLC Buys 6,253 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Cerity Partners LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 21.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,828 shares of the transportation company's stock after purchasing an additional 6,253 shares during the period. Cerity Partners LLC's holdings in Old Dominion Freight Line were worth $5,928,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. American National Bank & Trust bought a new stake in shares of Old Dominion Freight Line during the first quarter valued at approximately $30,000. Itau Unibanco Holding S.A. increased its holdings in shares of Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after acquiring an additional 192 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Old Dominion Freight Line during the first quarter valued at approximately $39,000. Olde Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line during the first quarter valued at approximately $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

ODFL stock traded up $1.40 during midday trading on Thursday, hitting $162.23. The company's stock had a trading volume of 1,770,135 shares, compared to its average volume of 1,640,564. The stock has a market cap of $34.28 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 3.24 and a beta of 1.25. The stock's 50-day moving average price is $164.02 and its 200 day moving average price is $170.32. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26.

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

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.28 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. Old Dominion Freight Line's payout ratio is presently 21.01%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ODFL. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $186.00 to $183.00 in a report on Tuesday, April 8th. Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Benchmark restated a "hold" rating and set a $102.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Barclays decreased their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $174.45.

Old Dominion Freight Line 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.