North Growth Management Ltd. Raises Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

North Growth Management Ltd. boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,000 shares of the transportation company's stock after acquiring an additional 5,000 shares during the quarter. North Growth Management Ltd.'s holdings in Old Dominion Freight Line were worth $5,095,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ODFL. Blueshift Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $630,000. Ameriprise Financial Inc. increased its holdings in Old Dominion Freight Line by 2.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock valued at $223,281,000 after buying an additional 35,778 shares during the last quarter. Callan Family Office LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at $307,000. one8zero8 LLC acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at $431,000. Finally, Sciencast Management LP purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $309,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL traded up $0.43 on Friday, reaching $156.46. The company's stock had a trading volume of 2,545,790 shares, compared to its average volume of 1,638,614. Old Dominion Freight Line, Inc. has a 52-week low of $144.90 and a 52-week high of $233.26. The stock has a market capitalization of $33.06 billion, a P/E ratio of 29.35, a PEG ratio of 3.21 and a beta of 1.27. The stock's 50-day moving average is $159.46 and its two-hundred day moving average is $173.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the business earned $1.34 EPS. The firm's revenue was down 5.8% compared to the same quarter last year. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

Analyst Ratings Changes

ODFL has been the topic of a number of recent analyst reports. Susquehanna dropped their price objective on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a report on Wednesday. UBS Group dropped their price target on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus cut their price objective on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Bank of America upped their target price on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $176.10.

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.