Federated Hermes Inc. Acquires 15,150 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Federated Hermes Inc. increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 445.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,550 shares of the transportation company's stock after purchasing an additional 15,150 shares during the period. Federated Hermes Inc.'s holdings in Old Dominion Freight Line were worth $3,069,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock valued at $442,784,000 after purchasing an additional 27,367 shares in the last quarter. Northern Trust Corp increased its position in shares of Old Dominion Freight Line by 15.2% during the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after purchasing an additional 261,305 shares in the last quarter. First Trust Advisors LP lifted its holdings in Old Dominion Freight Line by 13.6% during the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock valued at $272,969,000 after purchasing an additional 185,500 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after buying an additional 1,361,397 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Old Dominion Freight Line by 2.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock worth $223,281,000 after buying an additional 35,778 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Analysts Set New Price Targets

ODFL has been the subject of several recent analyst reports. The Goldman Sachs Group raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Monday, June 2nd. JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. Barclays set a $155.00 price objective on Old Dominion Freight Line and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Benchmark restated a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Finally, Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $167.62.

Old Dominion Freight Line Trading Up 0.5%

NASDAQ ODFL traded up $0.74 during trading hours on Friday, hitting $146.07. The company's stock had a trading volume of 626,814 shares, compared to its average volume of 1,843,062. Old Dominion Freight Line, Inc. has a twelve month low of $141.73 and a twelve month high of $233.26. The firm has a market capitalization of $30.87 billion, a P/E ratio of 28.56, a PEG ratio of 3.45 and a beta of 1.24. The company has a quick ratio of 1.32, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $160.95 and a 200 day moving average of $167.57.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

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.