Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Focus Partners Wealth

Key Points

• Focus Partners Wealth increased its holdings in Old Dominion Freight Line, Inc. by **50.4%** during Q1, buying an additional **14,067 shares**, bringing its total to **41,973 shares valued at $6.94 million**.
• Old Dominion Freight Line's recent quarterly earnings report indicated a **missed EPS estimate of $1.27**, compared to the expected **$1.29**, with revenues of **$1.41 billion**, down **6.1%** year-over-year.
• The company announced a quarterly **dividend of $0.28**, which will be paid on **September 17th**, representing an annual yield of **0.8%** with a payout ratio of **21.88%**.

Focus Partners Wealth boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 50.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,973 shares of the transportation company's stock after buying an additional 14,067 shares during the period. Focus Partners Wealth's holdings in Old Dominion Freight Line were worth $6,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ODFL. Larson Financial Group LLC lifted its holdings in Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after acquiring an additional 108 shares during the period. American National Bank & Trust acquired a new position in Old Dominion Freight Line in the first quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line in the first quarter valued at approximately $39,000. Zions Bancorporation National Association UT acquired a new position in Old Dominion Freight Line in the first quarter valued at approximately $39,000. Finally, Olde Wealth Management LLC acquired a new position in Old Dominion Freight Line in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 0.4%

NASDAQ ODFL traded up $0.60 during trading on Thursday, hitting $142.39. The stock had a trading volume of 2,222,581 shares, compared to its average volume of 1,745,253. The firm has a 50 day moving average price of $152.96 and a 200 day moving average price of $158.92. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $29.93 billion, a PE ratio of 27.81, a PEG ratio of 3.29 and a beta of 1.23. Old Dominion Freight Line, Inc. has a twelve month low of $140.71 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data 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). The company 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 business's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 EPS. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business 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. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.88%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ODFL. Morgan Stanley decreased their target price on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Barclays set a $155.00 price objective on Old Dominion Freight Line and gave the company an "equal weight" rating in a research note on Thursday, July 31st. TD Cowen cut their target price on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. UBS Group cut their target price on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Finally, Truist Financial increased their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.