OneAscent Investment Solutions LLC Makes New $522,000 Investment in Old Dominion Freight Line, Inc. $ODFL

Key Points

• OneAscent Investment Solutions LLC has acquired a new position in Old Dominion Freight Line, Inc. valued at approximately $522,000, indicating strong investor interest in the transportation sector.
• Following recent stock analyses, the consensus rating for Old Dominion Freight Line is "Hold" with an average target price of $167.62, reflecting mixed outlooks from various analysts.
• Old Dominion Freight Line reported a quarterly revenue of $1.41 billion, missing estimates, and also announced a quarterly dividend of $0.28 per share, with a total annual yield of 0.7%.

OneAscent Investment Solutions LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,153 shares of the transportation company's stock, valued at approximately $522,000.

Several other institutional investors also recently added to or reduced their stakes in ODFL. Brighton Jones LLC boosted its position in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after purchasing an additional 79 shares during the period. XTX Topco Ltd bought a new position in Old Dominion Freight Line during the fourth quarter worth about $368,000. Canada Post Corp Registered Pension Plan bought a new position in Old Dominion Freight Line during the fourth quarter worth about $536,000. Jump Financial LLC boosted its position in Old Dominion Freight Line by 522.8% during the fourth quarter. Jump Financial LLC now owns 27,396 shares of the transportation company's stock worth $4,833,000 after purchasing an additional 22,997 shares during the period. Finally, NewEdge Advisors LLC boosted its position in Old Dominion Freight Line by 2.7% during the fourth quarter. NewEdge Advisors LLC now owns 6,151 shares of the transportation company's stock worth $1,085,000 after purchasing an additional 162 shares during the period. Institutional investors own 77.82% of the company's stock.

Analysts Set New Price Targets

ODFL has been the subject of a number of research reports. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and increased their target price for the stock from $190.00 to $200.00 in a research report on Monday, June 2nd. Bank of America increased their target price on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wells Fargo & Company lowered their price target on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a report on Thursday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of 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. Finally, Baird R W raised shares of Old Dominion Freight Line to a "hold" rating in a report on Tuesday, July 1st. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $167.62.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded up $3.8430 during mid-day trading on Tuesday, hitting $154.3030. 1,061,242 shares of the company traded hands, compared to its average volume of 1,836,247. Old Dominion Freight Line, Inc. has a one year low of $140.91 and a one year high of $233.26. The stock has a market cap of $32.43 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 3.48 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 stock has a fifty day moving average price of $159.28 and a 200-day moving average price of $165.28.

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 (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 the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The company's revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid 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 dividend payout ratio (DPR) is 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.