MGO One Seven LLC Invests $3.06 Million in Old Dominion Freight Line, Inc. $ODFL

Key Points

• MGO One Seven LLC has invested approximately $3.06 million in Old Dominion Freight Line, acquiring 18,881 shares during the second quarter.
• Old Dominion Freight Line has reported a 6.1% decrease in revenue year-over-year, with earnings per share of $1.27, missing analyst estimates.
• The company recently announced a quarterly dividend of $0.28, resulting in an annualized yield of 0.8% and a payout ratio of 21.88%.

MGO One Seven LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,881 shares of the transportation company's stock, valued at approximately $3,064,000.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC raised its holdings in 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 valued at $25,000 after buying an additional 108 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $39,000. Wayfinding Financial LLC bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $39,000. Olde Wealth Management LLC bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $43,000. Finally, WPG Advisers LLC bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $51,000. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ODFL. Weiss Ratings reiterated a "hold (c-)" rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a report on Thursday, July 31st. Citigroup lowered their price target on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Susquehanna boosted their price objective on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Finally, Truist Financial boosted their price objective on shares of Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $163.86.

Old Dominion Freight Line Stock Down 0.6%

Shares of Old Dominion Freight Line stock opened at $135.43 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The company's fifty day simple moving average is $145.99 and its two-hundred day simple moving average is $155.28. The company has a market cap of $28.46 billion, a P/E ratio of 26.45, a PEG ratio of 3.19 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 12-month low of $133.69 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 earnings per share. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

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.

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