Landscape Capital Management L.L.C. Purchases 5,745 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Landscape Capital Management L.L.C. increased its stake in Old Dominion Freight Line by 98.5%, owning a total of 11,575 shares valued at approximately $1.915 million as of the latest SEC filing.
• Several hedge funds are actively investing in Old Dominion Freight Line, with 77.82% of the company's stock now held by institutional investors.
• Old Dominion reported its Q2 earnings with $1.27 EPS, slightly missing estimates, and announced a dividend payment of $0.28 per share, reflecting a 0.7% yield.

Landscape Capital Management L.L.C. increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 98.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,575 shares of the transportation company's stock after purchasing an additional 5,745 shares during the period. Landscape Capital Management L.L.C.'s holdings in Old Dominion Freight Line were worth $1,915,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Old Dominion Freight Line by 1.9% during the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock worth $3,750,157,000 after buying an additional 416,097 shares during the period. Invesco Ltd. boosted its position in shares of Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company's stock worth $706,841,000 after buying an additional 53,079 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 79.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock worth $430,006,000 after buying an additional 1,151,221 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock worth $402,002,000 after buying an additional 754,796 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Old Dominion Freight Line by 15.2% during the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after buying an additional 261,305 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded down $1.08 during mid-day trading on Tuesday, reaching $149.89. 1,339,929 shares of the company were exchanged, compared to its average volume of 1,846,611. The company has a fifty day simple moving average of $157.89 and a 200-day simple moving average of $162.16. Old Dominion Freight Line, Inc. has a 12 month low of $140.91 and a 12 month high of $233.26. 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 firm has a market cap of $31.50 billion, a PE ratio of 29.19, a PEG ratio of 3.50 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates 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 was down 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is presently 21.88%.

Analyst Ratings Changes

Several research analysts recently commented on ODFL shares. Stephens reduced their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Barclays set a $155.00 price target on Old Dominion Freight Line and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Raymond James Financial reduced their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Vertical Research raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Thursday, July 31st. Finally, Susquehanna cut their price objective on Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $167.62.

Old Dominion Freight Line 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.