S Bank Fund Management Ltd Makes New Investment in Old Dominion Freight Line, Inc. $ODFL

Key Points

• S Bank Fund Management Ltd has acquired a new stake in Old Dominion Freight Line Inc, buying 3,639 shares valued at approximately $602,000.
• Old Dominion Freight Line recently reported earnings of $1.27 EPS, missing estimates by $0.02, with revenue down 6.1% year-over-year to $1.41 billion.
• The company declared a quarterly dividend of $0.28 per share, resulting in an annualized dividend yield of 0.7% and a payout ratio of 21.88%.

S Bank Fund Management Ltd purchased a new stake in 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 SEC. The fund purchased 3,639 shares of the transportation company's stock, valued at approximately $602,000.

Several other large investors have also modified their holdings of the business. Ameriprise Financial Inc. raised its stake in shares of Old Dominion Freight Line by 2.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock worth $223,281,000 after acquiring an additional 35,778 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock worth $514,000 after acquiring an additional 1,018 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Old Dominion Freight Line by 9.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock worth $2,911,000 after acquiring an additional 1,529 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Old Dominion Freight Line by 93.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,396 shares of the transportation company's stock worth $2,716,000 after acquiring an additional 7,439 shares in the last quarter. Finally, Bayesian Capital Management LP raised its stake in shares of Old Dominion Freight Line by 592.3% during the 4th quarter. Bayesian Capital Management LP now owns 9,000 shares of the transportation company's stock worth $1,588,000 after acquiring an additional 7,700 shares in the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded down $0.68 during trading hours on Monday, hitting $150.46. The company's stock had a trading volume of 1,136,023 shares, compared to its average volume of 1,841,445. The company has a 50 day moving average of $159.51 and a 200 day moving average of $165.53. The stock has a market cap of $31.62 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 3.48 and a beta of 1.24. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a 12-month low of $140.91 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period last year, the company posted $1.48 earnings per share. The business's quarterly revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Old Dominion Freight Line's dividend payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America boosted their price objective on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Stephens reduced their price objective on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Barclays set a $155.00 price objective on shares of Old Dominion Freight Line and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research report on Thursday, July 31st. Finally, 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 research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average target price of $167.62.

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.