Russell Investments Group Ltd. Boosts Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Russell Investments Group Ltd. increased its stake in Old Dominion Freight Line by 0.9%, now owning 271,564 shares valued at approximately $44.9 million.
• Old Dominion reported a quarterly earnings per share (EPS) of $1.27, missing analyst estimates by $0.02, with revenue of $1.41 billion for the quarter.
• The company announced a quarterly dividend of $0.28 per share, scheduled for payment on September 17th, reflecting a 0.7% yield.

Russell Investments Group Ltd. raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,564 shares of the transportation company's stock after purchasing an additional 2,388 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Old Dominion Freight Line worth $44,920,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC grew its stake in Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter worth $30,000. Itau Unibanco Holding S.A. grew its position in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after buying an additional 192 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at $39,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at $39,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL traded down $0.17 during trading on Monday, reaching $150.97. The stock had a trading volume of 679,198 shares, compared to its average volume of 1,838,106. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. Old Dominion Freight Line, Inc. has a 1-year low of $140.91 and a 1-year high of $233.26. The stock has a market cap of $31.73 billion, a PE ratio of 29.49, a PEG ratio of 3.48 and a beta of 1.24. The business has a fifty day moving average price of $159.51 and a 200-day moving average price of $165.53.

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). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates 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 for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. On average, equities analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.88%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price 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. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the stock a "neutral" rating in a report on Monday, August 4th. Barclays set a $155.00 target price on Old Dominion Freight Line and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Stephens cut their price objective on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has an average rating of "Hold" and an average price target 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.