2,893 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by Sabal Trust CO

Sabal Trust CO purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,893 shares of the transportation company's stock, valued at approximately $479,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $630,000. Ameriprise Financial Inc. boosted its holdings in Old Dominion Freight Line by 2.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock worth $223,281,000 after purchasing an additional 35,778 shares during the period. Callan Family Office LLC bought a new stake in Old Dominion Freight Line during the fourth quarter valued at $307,000. one8zero8 LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $431,000. Finally, Sciencast Management LP acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $309,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded up $2.69 during midday trading on Friday, hitting $163.68. 6,623,108 shares of the stock were exchanged, compared to its average volume of 1,657,022. The company has a market capitalization of $34.59 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 3.31 and a beta of 1.26. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a one year low of $144.90 and a one year high of $233.26. The business has a 50-day moving average price of $160.16 and a two-hundred day moving average price of $172.70.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period last year, the firm earned $1.34 EPS. The firm's revenue for the quarter was down 5.8% on a year-over-year basis. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's payout ratio is currently 21.01%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ODFL shares. JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Bank of America upped their target price on Old Dominion Freight Line from $167.00 to $183.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Benchmark reissued a "hold" rating and issued a $102.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Citigroup upgraded Old Dominion Freight Line from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. Finally, Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $176.10.

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.