JPMorgan Chase & Co. Has $402 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• JPMorgan Chase & Co. increased its holdings in Old Dominion Freight Line by 45.1%, now owning approximately 2.43 million shares valued at $402 million as of the latest quarter.
• Old Dominion Freight Line reported earnings per share (EPS) of $1.27, falling short of analysts' expectations, with revenue decline of 6.1% year-over-year to $1.41 billion.
• The company has announced a quarterly dividend of $0.28 per share, reflecting a 0.8% yield and a dividend payout ratio of 21.88%.

JPMorgan Chase & Co. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 45.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,429,750 shares of the transportation company's stock after acquiring an additional 754,796 shares during the quarter. JPMorgan Chase & Co. owned 1.15% of Old Dominion Freight Line worth $402,002,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Old Dominion Freight Line by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock worth $3,750,157,000 after acquiring an additional 416,097 shares during the period. Capital World Investors boosted its position in Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock worth $442,784,000 after acquiring an additional 27,367 shares during the period. Northern Trust Corp boosted its position in Old Dominion Freight Line by 15.2% during the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after acquiring an additional 261,305 shares during the period. First Trust Advisors LP raised its stake in shares of Old Dominion Freight Line by 13.6% during the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company's stock worth $272,969,000 after purchasing an additional 185,500 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Old Dominion Freight Line by 1,575.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after purchasing an additional 1,361,397 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Baird R W raised Old Dominion Freight Line to a "hold" rating in a research note on Tuesday, July 1st. Stifel Nicolaus cut their price target on 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. Evercore ISI cut their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research note on Thursday, April 24th. Raymond James Financial cut their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $167.62.

Old Dominion Freight Line Stock Performance

ODFL opened at $143.02 on Tuesday. The firm has a market capitalization of $30.06 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 3.33 and a beta of 1.24. The stock's 50 day moving average price is $160.30 and its two-hundred day moving average price is $166.59. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a 12-month low of $140.91 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business's quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 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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