National Pension Service Buys 43,179 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• The National Pension Service increased its stake in Old Dominion Freight Line, Inc. by 17.0% during the 1st quarter, owning approximately 297,819 shares valued at $49.27 million.
• Old Dominion Freight Line's stock has recently seen a 1.5% decline, with a current price of $151.11 and a market cap of $31.76 billion.
• The company announced a quarterly dividend of $0.28 per share, scheduled for payment on September 17th, with a yield of 0.7%.

National Pension Service boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 17.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,819 shares of the transportation company's stock after purchasing an additional 43,179 shares during the quarter. National Pension Service owned about 0.14% of Old Dominion Freight Line worth $49,274,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lido Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 3.2% during the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock worth $340,000 after acquiring an additional 59 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of Old Dominion Freight Line by 1.4% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,531 shares of the transportation company's stock valued at $799,000 after acquiring an additional 63 shares during the period. Benjamin Edwards Inc. increased its position in Old Dominion Freight Line by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 2,297 shares of the transportation company's stock worth $405,000 after acquiring an additional 67 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Old Dominion Freight Line by 4.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company's stock worth $268,000 after purchasing an additional 71 shares in the last quarter. Finally, City Holding Co. grew its position 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 worth $1,175,000 after purchasing an additional 75 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. TD Cowen decreased their price target on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Monday, August 4th. Finally, Stifel Nicolaus reduced their price target on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $167.62.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded up $3.7210 on Tuesday, reaching $154.1810. 1,004,852 shares of the company's stock were exchanged, compared to its average volume of 1,835,551. The firm has a market cap of $32.40 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 3.48 and a beta of 1.24. 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 stock has a fifty day simple moving average of $159.28 and a 200-day simple moving average of $165.28. Old Dominion Freight Line, Inc. has a 52 week low of $140.91 and a 52 week 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 return on equity of 25.94% and a net margin of 19.42%.The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the company posted $1.48 EPS. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Old Dominion Freight Line's payout ratio is presently 21.88%.

About Old Dominion Freight Line

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.