Quantum Capital Management LLC NJ Has $86.92 Million Stake in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Quantum Capital Management LLC NJ reduced its stake in Old Dominion Freight Line by 1.6%, now owning approximately 525,364 shares valued at around $86.9 million.
• Old Dominion Freight Line announced a quarterly dividend of $0.28 per share, with a dividend yield of 0.7%, payable on September 17th.
• Despite recent analyst upgrades, Old Dominion Freight Line reported a 6.1% decline in quarterly revenue compared to last year, missing earnings estimates by $0.02.

Quantum Capital Management LLC NJ lowered its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 525,364 shares of the transportation company's stock after selling 8,640 shares during the quarter. Old Dominion Freight Line accounts for approximately 9.0% of Quantum Capital Management LLC NJ's holdings, making the stock its 2nd biggest holding. Quantum Capital Management LLC NJ owned about 0.25% of Old Dominion Freight Line worth $86,922,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after buying an additional 108 shares in the last quarter. American National Bank & Trust acquired a new stake in Old Dominion Freight Line during the first quarter worth about $30,000. Wayfinding Financial LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth about $39,000. Zions Bancorporation National Association UT acquired a new stake in Old Dominion Freight Line during the first quarter worth about $39,000. Finally, Itau Unibanco Holding S.A. raised its stake in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating for the company in a research report on Tuesday, July 8th. Stephens cut their target price on shares of 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. Benchmark restated a "hold" rating and set a $102.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Finally, Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research note on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $167.62.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL traded up $9.38 during trading on Friday, reaching $159.13. The company had a trading volume of 1,962,314 shares, compared to its average volume of 2,233,569. Old Dominion Freight Line, Inc. has a 52 week low of $140.91 and a 52 week high of $233.26. The stock has a market cap of $33.44 billion, a PE ratio of 31.08, a PEG ratio of 3.47 and a beta of 1.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The business's 50 day moving average price is $158.50 and its 200-day moving average price is $164.71.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company's revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. Analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line's dividend payout ratio is presently 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.