2,741 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,741 shares of the transportation company's stock, valued at approximately $454,000.

Several other institutional investors have also modified their holdings of the stock. World Investment Advisors lifted its stake in shares of Old Dominion Freight Line by 25.0% in the 1st quarter. World Investment Advisors now owns 2,547 shares of the transportation company's stock valued at $421,000 after purchasing an additional 509 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $39,000. Olde Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $43,000. IFM Investors Pty Ltd lifted its stake in shares of Old Dominion Freight Line by 11.0% in the 1st quarter. IFM Investors Pty Ltd now owns 38,187 shares of the transportation company's stock valued at $6,318,000 after purchasing an additional 3,780 shares during the last quarter. Finally, GF Fund Management CO. LTD. lifted its stake in shares of Old Dominion Freight Line by 1.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 41,246 shares of the transportation company's stock valued at $6,824,000 after purchasing an additional 783 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ODFL. Jefferies Financial Group lowered their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a research note on Tuesday, July 8th. Baird R W raised Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Raymond James Financial set a $185.00 price target on Old Dominion Freight Line and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Stephens reissued an "overweight" rating and set a $180.00 price target (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, fifteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $174.45.

Old Dominion Freight Line Stock Down 2.0%

Shares of NASDAQ:ODFL traded down $3.39 on Friday, reaching $167.73. The company had a trading volume of 1,137,576 shares, compared to its average volume of 1,651,017. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The firm's 50 day simple moving average is $163.56 and its 200-day simple moving average is $170.63. The firm has a market capitalization of $35.44 billion, a PE ratio of 31.47, a PEG ratio of 3.48 and a beta of 1.25. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01.

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

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.28 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

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.