Czech National Bank Boosts Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• The Czech National Bank increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ: ODFL) by 5.3% during the second quarter, owning 45,456 shares valued at approximately $7.38 million.
• Old Dominion Freight Line's stock is down 3.6%, with a reported EPS of $1.27 for its last quarter, missing estimates and marking a 6.1% decline in revenue compared to last year.
• The company announced a quarterly dividend of $0.28 per share, reflecting a 0.8% dividend yield and a payout ratio of 21.88%.

Czech National Bank grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,456 shares of the transportation company's stock after purchasing an additional 2,304 shares during the quarter. Czech National Bank's holdings in Old Dominion Freight Line were worth $7,378,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ODFL. Larson Financial Group LLC increased its holdings in Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares in the last quarter. American National Bank & Trust acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at about $39,000. Wayfinding Financial LLC acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at about $39,000. Finally, Olde Wealth Management LLC bought a new position in Old Dominion Freight Line in the 1st quarter valued at about $43,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 1.1%

Shares of NASDAQ ODFL traded down $1.55 during trading hours on Friday, hitting $140.84. 4,264,082 shares of the stock were exchanged, compared to its average volume of 1,753,899. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a 12 month low of $140.09 and a 12 month high of $233.26. The company has a market cap of $29.60 billion, a PE ratio of 27.51, a PEG ratio of 3.27 and a beta of 1.23. The firm has a fifty day moving average price of $152.42 and a 200-day moving average price of $158.56.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm's revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.88%.

Analyst Upgrades and Downgrades

Several research firms have commented on ODFL. UBS Group dropped their target price on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of 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. Morgan Stanley reduced their price target on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Monday, August 4th. 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's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $166.95.

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.