Sanctuary Advisors LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 57,635 shares of the transportation company's stock, valued at approximately $12,484,000.
Other hedge funds have also recently made changes to their positions in the company. Bell Investment Advisors Inc bought a new position in Old Dominion Freight Line in the 2nd quarter worth $25,000. Solstein Capital LLC purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company's stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. Evolution Wealth Management Inc. bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at about $29,000. Finally, Reflection Asset Management purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $28,000. 77.82% of the stock is owned by hedge funds and other institutional investors.
Old Dominion Freight Line Price Performance
Shares of ODFL opened at $206.47 on Monday. The business's 50 day moving average price is $220.21 and its 200-day moving average price is $210.63. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03. The stock has a market cap of $42.81 billion, a P/E ratio of 39.78, a P/E/G ratio of 3.59 and a beta of 1.18.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.14. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $1.27 EPS. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.
Old Dominion Freight Line Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line's dividend payout ratio is currently 22.35%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on ODFL shares. Citigroup reissued a "neutral" rating and issued a $231.00 price target (up from $228.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Robert W. Baird set a $229.00 target price on Old Dominion Freight Line and gave the company a "neutral" rating in a research note on Tuesday, April 28th. Stifel Nicolaus set a $263.00 price target on Old Dominion Freight Line and gave the company a "buy" rating in a research report on Thursday, July 30th. Zacks Research upgraded Old Dominion Freight Line from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Finally, Benchmark reissued a "hold" rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $226.55.
Read Our Latest Stock Analysis on ODFL
Old Dominion Freight Line Profile
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Free Report)
Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.
The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.
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