Jones Financial Companies Lllp Boosts Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Jones Financial Companies Lllp significantly increased its holdings in Old Dominion Freight Line, boosting its position by 2,463.4% in the first quarter, now owning nearly 70,000 shares valued at approximately $11.6 million.
• Old Dominion Freight Line reported $1.27 earnings per share for the last quarter, slightly missing analyst expectations of $1.29, with revenues down 6.1% year-over-year.
• The company declared a quarterly dividend of $0.28 per share, representing an annualized payment of $1.12, with a dividend yield of 0.7% set to be paid on September 17th.

Jones Financial Companies Lllp grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 2,463.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,982 shares of the transportation company's stock after purchasing an additional 67,252 shares during the quarter. Jones Financial Companies Lllp's holdings in Old Dominion Freight Line were worth $11,579,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 4.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company's stock valued at $268,000 after purchasing an additional 71 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Old Dominion Freight Line by 3.1% during the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company's stock valued at $392,000 after purchasing an additional 71 shares in the last quarter. City Holding Co. increased its holdings in shares of Old Dominion Freight Line by 1.1% during the 1st quarter. City Holding Co. now owns 7,104 shares of the transportation company's stock valued at $1,175,000 after purchasing an additional 75 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after purchasing an additional 79 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its holdings in shares of Old Dominion Freight Line by 5.4% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,558 shares of the transportation company's stock valued at $258,000 after purchasing an additional 80 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Up 0.3%

Shares of ODFL opened at $151.11 on Tuesday. Old Dominion Freight Line, Inc. has a 52-week low of $140.71 and a 52-week high of $233.26. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm's fifty day moving average is $156.68 and its two-hundred day moving average is $160.41. The stock has a market cap of $31.76 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 3.50 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its 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). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm earned $1.48 EPS. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. 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%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group reduced their price objective on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Baird R W upgraded shares of Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. Benchmark restated a "hold" rating and set a $102.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Stifel Nicolaus reduced 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 report on Thursday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and an average target price of $167.62.

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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