Focus Partners Advisor Solutions LLC Invests $441,000 in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Focus Partners Advisor Solutions LLC invested $441,000 in Old Dominion Freight Line, acquiring 2,666 shares of the stock during the first quarter.
• A variety of institutional investors have been increasing their stakes in Old Dominion Freight Line, with institutional ownership now at 77.82%.
• Old Dominion Freight Line announced a quarterly dividend of $0.28, which is scheduled to be paid on September 17th, representing a 0.7% yield.

Focus Partners Advisor Solutions LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,666 shares of the transportation company's stock, valued at approximately $441,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Benjamin Edwards Inc. raised its holdings in shares of Old Dominion Freight Line by 3.0% in the 4th quarter. Benjamin Edwards Inc. now owns 2,297 shares of the transportation company's stock worth $405,000 after acquiring an additional 67 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company's stock worth $268,000 after acquiring an additional 71 shares during the last quarter. City Holding Co. raised its holdings in shares of Old Dominion Freight Line by 1.1% in the 1st quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock worth $1,175,000 after acquiring an additional 75 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after acquiring an additional 79 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. raised its holdings in shares of Old Dominion Freight Line by 5.4% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company's stock worth $258,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ODFL shares. Vertical Research upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a report on Thursday, July 31st. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and increased their price objective for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. Bank of America increased their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Stephens decreased their price objective on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $167.62.

Old Dominion Freight Line Trading Up 1.3%

Shares of ODFL stock opened at $150.71 on Friday. The company has a 50 day moving average of $156.90 and a 200-day moving average of $161.18. 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 $140.71 and a 12-month high of $233.26. The firm has a market cap of $31.67 billion, a P/E ratio of 29.44, a PEG ratio of 3.45 and a beta of 1.23.

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 the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm's quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $1.48 earnings per share. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.88%.

Old Dominion Freight Line Company 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.

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