Golden State Wealth Management LLC Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Golden State Wealth Management LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 159.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,798 shares of the transportation company's stock after acquiring an additional 2,947 shares during the period. Golden State Wealth Management LLC's holdings in Old Dominion Freight Line were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. American National Bank & Trust acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth $30,000. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. raised its holdings in shares of 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 worth $40,000 after purchasing an additional 192 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $51,000. Finally, CoreCap Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 98.2% during 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. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 0.4%

Shares of NASDAQ ODFL opened at $160.99 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $144.90 and a 12-month high of $233.26. The stock has a market cap of $34.02 billion, a PE ratio of 30.20, a P/E/G ratio of 3.31 and a beta of 1.26. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $160.16 and a 200 day moving average of $172.70.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the company earned $1.34 EPS. Old Dominion Freight Line's revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts predict 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 was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 annualized dividend and a yield of 0.70%. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.

Wall Street Analyst Weigh In

ODFL has been the subject of several recent research reports. Barclays reduced their target price on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Benchmark reaffirmed a "hold" rating and issued a $102.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Stephens reaffirmed an "overweight" rating and issued a $180.00 price objective (down previously from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Bank of America lifted 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 report on Friday, May 16th. Finally, Wells Fargo & Company set a $150.00 price objective on shares of Old Dominion Freight Line and gave the company an "underweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $176.10.

Old Dominion Freight Line 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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