IFM Investors Pty Ltd Acquires 1,841 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• IFM Investors Pty Ltd has increased its stake in Old Dominion Freight Line, acquiring an additional 1,841 shares and raising its total holdings to 36,248 shares valued at approximately $5.88 million.
• Analysts have mixed ratings for Old Dominion Freight Line, with Goldman Sachs upgrading the stock from "neutral" to "buy" and setting a new target price of $200, while Wells Fargo lowered its target price to $145 with an "underweight" rating.
• The company recently announced a quarterly dividend of $0.28 per share, representing an annualized yield of 0.8%, with a payout ratio of 21.88%.

IFM Investors Pty Ltd grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,248 shares of the transportation company's stock after purchasing an additional 1,841 shares during the period. IFM Investors Pty Ltd's holdings in Old Dominion Freight Line were worth $5,883,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ODFL. Larson Financial Group LLC grew its holdings in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after acquiring an additional 108 shares during the period. American National Bank & Trust bought a new position in Old Dominion Freight Line in the 1st quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new position in shares of Old Dominion Freight Line during the 1st quarter valued at $39,000. Wayfinding Financial LLC bought a new position in shares of Old Dominion Freight Line during the 1st quarter valued at $39,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter worth $43,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on ODFL. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a report on Monday, August 4th. Citigroup lowered their price objective on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Stifel Nicolaus lowered their price objective on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a report on Thursday, July 31st. Finally, Stephens cut their target price on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $166.95.

Old Dominion Freight Line Stock Up 0.1%

NASDAQ:ODFL traded up $0.08 during midday trading on Tuesday, hitting $139.01. 662,574 shares of the company were exchanged, compared to its average volume of 1,855,444. The company has a market capitalization of $29.21 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 3.27 and a beta of 1.23. The company has a fifty day simple moving average of $151.88 and a 200 day simple moving average of $158.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a fifty-two week low of $138.65 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the firm posted $1.48 EPS. The firm's quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued 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%.

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.