Gateway Investment Advisers LLC Buys 1,595 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gateway Investment Advisers LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,983 shares of the transportation company's stock after buying an additional 1,595 shares during the quarter. Gateway Investment Advisers LLC's holdings in Old Dominion Freight Line were worth $13,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ODFL. Impact Capital Partners LLC lifted its stake in shares of Old Dominion Freight Line by 16.1% in the first quarter. Impact Capital Partners LLC now owns 2,566 shares of the transportation company's stock valued at $425,000 after purchasing an additional 355 shares during the period. Retireful LLC purchased a new position in Old Dominion Freight Line in the first quarter valued at about $339,000. Merit Financial Group LLC lifted its position in shares of Old Dominion Freight Line by 23.9% during the 1st quarter. Merit Financial Group LLC now owns 1,928 shares of the transportation company's stock valued at $319,000 after acquiring an additional 372 shares during the period. NBC Securities Inc. boosted its stake in shares of Old Dominion Freight Line by 117,041.2% during the 1st quarter. NBC Securities Inc. now owns 19,914 shares of the transportation company's stock worth $3,294,000 after acquiring an additional 19,897 shares in the last quarter. Finally, American National Bank & Trust acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter worth approximately $30,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on ODFL. Jefferies Financial Group decreased their target price on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Raymond James set a $185.00 price objective on shares of Old Dominion Freight Line and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Truist Financial cut their target price on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, UBS Group dropped their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $180.42.

Old Dominion Freight Line Stock Up 3.5%

NASDAQ ODFL traded up $5.68 on Tuesday, reaching $167.89. The stock had a trading volume of 1,916,485 shares, compared to its average volume of 1,639,738. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The business has a 50 day moving average price of $158.88 and a 200 day moving average price of $177.19. The company has a market capitalization of $35.48 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 2.89 and a beta of 1.27.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. Old Dominion Freight Line's dividend payout ratio is 21.01%.

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.