Frank Rimerman Advisors LLC Acquires New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• Frank Rimerman Advisors LLC acquired a new stake in Old Dominion Freight Line, purchasing 2,067 shares valued at approximately $342,000 during the first quarter.
• The company's recent earnings report revealed an EPS of $1.27, missing estimates, and a quarterly revenue of $1.41 billion, down 6.1% year-over-year.
• Old Dominion Freight Line plans to pay a quarterly dividend of $0.28 on September 17th, reflecting an annualized yield of 0.8% and a payout ratio of 21.88%.

Frank Rimerman Advisors LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,067 shares of the transportation company's stock, valued at approximately $342,000.

A number of other institutional investors have also bought and sold shares of ODFL. Larson Financial Group LLC boosted its position in Old Dominion Freight Line by 234.8% during 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 last quarter. American National Bank & Trust bought a new stake in Old Dominion Freight Line during the first quarter valued at $30,000. Wayfinding Financial LLC bought a new stake in Old Dominion Freight Line during the first quarter valued at $39,000. Zions Bancorporation National Association UT bought a new stake in Old Dominion Freight Line during the first quarter valued at $39,000. Finally, Itau Unibanco Holding S.A. boosted its position in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after acquiring an additional 192 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 0.6%

NASDAQ:ODFL opened at $144.46 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $30.36 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 3.33 and a beta of 1.24. Old Dominion Freight Line, Inc. has a 52 week low of $141.73 and a 52 week high of $233.26. The firm has a 50-day moving average price of $160.64 and a two-hundred day moving average price of $166.93.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted 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 firm 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 company's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. On average, equities analysts expect 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 disclosed 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. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.88%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Baird R W raised shares of Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. Benchmark reissued a "hold" rating and set a $102.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $167.62.

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.

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