Inspire Investing LLC Has $3.49 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Inspire Investing LLC reduced its stake in Old Dominion Freight Line, Inc. by 16.2%, now owning 21,107 shares valued at approximately $3.49 million.
• Analysts have adjusted price targets for Old Dominion Freight Line, with ratings from various firms indicating a consensus average price target of $167.14, while most analysts classify the stock as a "Hold."
• The company recently announced a quarterly dividend of $0.28 per share, yielding about 0.7%, with a payout ratio of 21.88%.

Inspire Investing LLC trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 16.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,107 shares of the transportation company's stock after selling 4,066 shares during the quarter. Inspire Investing LLC's holdings in Old Dominion Freight Line were worth $3,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ODFL. Larson Financial Group LLC lifted its stake in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after buying an additional 108 shares during the last quarter. American National Bank & Trust acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $30,000. Wayfinding Financial LLC acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $39,000. Zions Bancorporation National Association UT acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $39,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $43,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ODFL has been the subject of a number of analyst reports. Stephens reduced their price objective 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. UBS Group cut their target price on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Susquehanna cut their target price on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Finally, Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $167.14.

Old Dominion Freight Line Trading Up 2.1%

Shares of Old Dominion Freight Line stock opened at $149.40 on Friday. The firm has a market capitalization of $31.40 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 3.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The company's fifty day moving average price is $155.37 and its two-hundred day moving average price is $160.01. Old Dominion Freight Line, Inc. has a 52-week low of $140.71 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is 21.88%.

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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