Compass Financial Management LLC Invests $2.16 Million in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Compass Financial Management acquired 9,961 shares of Old Dominion Freight Line during the second quarter, valued at approximately $2.16 million. Institutional investors own 77.82% of the company.
• Old Dominion reported quarterly EPS of $1.68, beating estimates of $1.54, while revenue rose 10.4% year over year to $1.55 billion. The company also declared a quarterly dividend of $0.29 per share, yielding 0.6% annually.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $226.55; ODFL shares recently opened at $206.47.

Compass Financial Management LLC acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,961 shares of the transportation company's stock, valued at approximately $2,158,000.

Other hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc purchased a new position in Old Dominion Freight Line in the second quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company's stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. Reflection Asset Management purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $28,000. Evolution Wealth Management Inc. purchased a new stake in Old Dominion Freight Line during the first quarter valued at about $29,000. Finally, DT Investment Partners LLC raised its position in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock valued at $33,000 after purchasing an additional 180 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Up 1.0%

Old Dominion Freight Line stock opened at $206.47 on Friday. The company has a market capitalization of $42.81 billion, a PE ratio of 39.78, a P/E/G ratio of 3.59 and a beta of 1.18. The firm has a fifty day simple moving average of $220.21 and a two-hundred day simple moving average of $210.45. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $1.27 earnings per share. The company's revenue was up 10.4% on a year-over-year basis. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line's payout ratio is 22.35%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Cowen reiterated a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Truist Financial increased their price objective on Old Dominion Freight Line from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Barclays raised their price objective on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an "equal weight" rating in a report on Thursday, June 25th. Robert W. Baird set a $229.00 target price on Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $226.55.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.

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