Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Smart Money Group LLC

Smart Money Group LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 65.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,935 shares of the transportation company's stock after acquiring an additional 1,944 shares during the period. Smart Money Group LLC's holdings in Old Dominion Freight Line were worth $816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ODFL. Evergreen Private Wealth LLC increased its stake in shares of Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock worth $1,173,000 after purchasing an additional 59 shares in the last quarter. Lido Advisors LLC increased its stake in shares of Old Dominion Freight Line by 3.2% during the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock worth $340,000 after purchasing an additional 59 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Old Dominion Freight Line by 5.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after purchasing an additional 61 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Old Dominion Freight Line by 1.4% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,531 shares of the transportation company's stock worth $799,000 after purchasing an additional 63 shares in the last quarter. Finally, Norden Group LLC increased its stake in shares of Old Dominion Freight Line by 4.9% during the 4th quarter. Norden Group LLC now owns 1,416 shares of the transportation company's stock worth $250,000 after purchasing an additional 66 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 0.7%

Shares of NASDAQ ODFL traded up $1.23 during trading on Friday, hitting $171.08. 1,369,300 shares of the company traded hands, compared to its average volume of 1,652,565. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a 50-day moving average price of $162.00 and a 200-day moving average price of $171.28. The firm has a market capitalization of $36.15 billion, a P/E ratio of 32.10, a P/E/G ratio of 3.53 and a beta of 1.25. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01.

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

Old Dominion Freight Line Announces Dividend

The firm 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. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. Old Dominion Freight Line's payout ratio is 21.01%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Evercore ISI lowered their target price on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an "in-line" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group raised shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Finally, Jefferies Financial Group lowered their target price on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $174.55.

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.