Sequoia Financial Advisors LLC Acquires 2,079 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Sequoia Financial Advisors LLC increased its stake in Old Dominion Freight Line by 36.7%, acquiring an additional 2,079 shares for a total ownership of 7,739 shares, valued at approximately $1.256 million.
• Old Dominion Freight Line reported $1.27 earnings per share for the last quarter, falling short of analysts' expectations by $0.02, while quarterly revenue decreased 6.1% from the previous year.
• The firm announced a quarterly dividend of $0.28 per share, resulting in an annualized yield of 0.8%, with a payout ratio of 21.88%.

Sequoia Financial Advisors LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 36.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,739 shares of the transportation company's stock after purchasing an additional 2,079 shares during the period. Sequoia Financial Advisors LLC's holdings in Old Dominion Freight Line were worth $1,256,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ODFL. Larson Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after purchasing an additional 108 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $39,000. Zions Bancorporation National Association UT bought a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $39,000. Olde Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $43,000. Finally, WPG Advisers LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $51,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 0.0%

ODFL stock opened at $138.04 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $29.01 billion, a PE ratio of 26.96, a PEG ratio of 3.26 and a beta of 1.19. Old Dominion Freight Line, Inc. has a twelve month low of $133.69 and a twelve month high of $233.26. The stock has a 50-day simple moving average of $145.42 and a two-hundred day simple moving average of $154.75.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm's quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 EPS. On average, equities analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line's payout ratio is presently 21.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ODFL shares. Evercore ISI lowered their target price on Old Dominion Freight Line from $155.00 to $143.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 30th. Stephens lowered their price objective on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Truist Financial boosted their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating on the stock in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lowered their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average price target of $163.86.

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.

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