Menora Mivtachim Holdings LTD. Acquires 50,000 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Menora Mivtachim Holdings LTD. increased its stake in Old Dominion Freight Line by 11.1%, now owning 500,000 shares worth approximately $82.73 million.
• Institutional investors and hedge funds collectively own 77.82% of Old Dominion Freight Line's stock, indicating strong institutional interest in the company.
• The company announced a quarterly dividend of $0.28 per share, representing an annualized dividend of $1.12 and a yield of 0.7%.

Menora Mivtachim Holdings LTD. grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 500,000 shares of the transportation company's stock after buying an additional 50,000 shares during the quarter. Menora Mivtachim Holdings LTD. owned 0.24% of Old Dominion Freight Line worth $82,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ODFL. T. Rowe Price Investment Management Inc. raised its position 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 valued at $255,390,000 after buying an additional 1,361,397 shares in the last quarter. Nuveen LLC purchased a new position in Old Dominion Freight Line in the 1st quarter worth $151,107,000. JPMorgan Chase & Co. raised its position in Old Dominion Freight Line by 45.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. GAMMA Investing LLC raised its position in Old Dominion Freight Line by 24,499.9% in the 1st quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company's stock worth $85,105,000 after purchasing an additional 512,293 shares during the period. Finally, Vanguard Group Inc. raised its position in Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock worth $3,750,157,000 after purchasing an additional 416,097 shares during the period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Down 2.8%

Shares of ODFL traded down $4.3210 during trading hours on Wednesday, reaching $150.4790. 1,141,784 shares of the company traded hands, compared to its average volume of 1,842,802. The company's fifty day moving average price is $159.01 and its two-hundred day moving average price is $165.21. The company has a market capitalization of $31.63 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. 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 announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion for 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 revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. Equities research analysts predict 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Old Dominion Freight Line's payout ratio is presently 21.88%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of analyst reports. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Monday, August 4th. Vertical Research upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Thursday, July 31st. Barclays set a $155.00 target price on shares of Old Dominion Freight Line and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. TD Cowen decreased their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research report on Thursday, July 31st. Finally, Benchmark reiterated a "hold" rating and issued a $102.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $167.62.

Old Dominion Freight Line Company 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.