Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Holdings Raised by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 24,499.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 514,384 shares of the transportation company's stock after purchasing an additional 512,293 shares during the period. GAMMA Investing LLC owned approximately 0.24% of Old Dominion Freight Line worth $85,105,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in Old Dominion Freight Line in the fourth quarter worth about $35,000. Itau Unibanco Holding S.A. boosted its holdings in Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line in the fourth quarter worth approximately $51,000. CoreCap Advisors LLC boosted its holdings in Old Dominion Freight Line by 98.2% in the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock worth $60,000 after purchasing an additional 168 shares during the last quarter. Finally, LRI Investments LLC boosted its stake in shares of Old Dominion Freight Line by 72.0% during the 4th quarter. LRI Investments LLC now owns 368 shares of the transportation company's stock worth $65,000 after acquiring an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Jefferies Financial Group cut their price target on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 2nd. Evercore ISI lowered their price target on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Finally, Stephens reaffirmed an "overweight" rating and issued a $180.00 price target (down previously from $200.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $180.42.

Old Dominion Freight Line Trading Down 1.1%

NASDAQ ODFL traded down $1.81 during mid-day trading on Thursday, hitting $159.68. The company's stock had a trading volume of 1,320,095 shares, compared to its average volume of 1,646,463. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The stock's fifty day simple moving average is $158.93 and its two-hundred day simple moving average is $178.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $33.74 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 earnings per share. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line's payout ratio is currently 21.01%.

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.