New Age Alpha Advisors LLC Invests $2.31 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

New Age Alpha Advisors LLC acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,940 shares of the transportation company's stock, valued at approximately $2,306,000.

Other hedge funds have also recently bought and sold shares of the company. Thoroughbred Financial Services LLC boosted its stake in shares of Old Dominion Freight Line by 36.2% in the first quarter. Thoroughbred Financial Services LLC now owns 6,386 shares of the transportation company's stock valued at $1,056,000 after purchasing an additional 1,699 shares during the period. Weitz Investment Management Inc. grew its stake in shares of Old Dominion Freight Line by 9.8% in the first quarter. Weitz Investment Management Inc. now owns 208,500 shares of the transportation company's stock worth $34,496,000 after acquiring an additional 18,600 shares in the last quarter. Argent Trust Co increased its position in shares of Old Dominion Freight Line by 2.1% during the first quarter. Argent Trust Co now owns 17,608 shares of the transportation company's stock worth $2,913,000 after acquiring an additional 364 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Old Dominion Freight Line by 8.6% in the first quarter. PNC Financial Services Group Inc. now owns 27,223 shares of the transportation company's stock valued at $4,504,000 after acquiring an additional 2,161 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in Old Dominion Freight Line by 22.6% in the first quarter. Moors & Cabot Inc. now owns 1,467 shares of the transportation company's stock valued at $243,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ODFL. JPMorgan Chase & Co. cut their price target on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Morgan Stanley reduced their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Benchmark reissued a "hold" rating and issued a $102.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. Finally, UBS Group decreased 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $167.62.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded down $0.87 on Friday, reaching $144.46. The company's stock had a trading volume of 1,440,285 shares, compared to its average volume of 2,003,047. Old Dominion Freight Line, Inc. has a 52-week low of $141.73 and a 52-week high of $233.26. The stock has a market capitalization of $30.36 billion, a P/E ratio of 28.21, a PEG ratio of 3.35 and a beta of 1.24. The stock's 50-day moving average is $160.64 and its two-hundred day moving average is $167.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.32.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The firm's revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

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