Stephens Inc. AR Grows Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Stephens Inc. AR increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 23.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,194 shares of the transportation company's stock after purchasing an additional 1,912 shares during the period. Stephens Inc. AR's holdings in Old Dominion Freight Line were worth $1,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODFL. Norges Bank purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $494,916,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after buying an additional 1,361,397 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Old Dominion Freight Line by 24,499.9% in the first quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company's stock worth $85,105,000 after buying an additional 512,293 shares during the last quarter. Menora Mivtachim Holdings LTD. purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $79,380,000. Finally, Northern Trust Corp raised its holdings in shares of Old Dominion Freight Line by 15.2% in the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after buying an additional 261,305 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ODFL. Susquehanna cut their price objective on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Stifel Nicolaus cut their price objective on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and dropped their price target for the company from $186.00 to $183.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $174.45.

Old Dominion Freight Line Stock Down 0.1%

Shares of ODFL stock traded down $0.14 during trading on Friday, reaching $162.09. The company's stock had a trading volume of 1,548,661 shares, compared to its average volume of 1,640,200. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $34.25 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 3.24 and a beta of 1.25. The stock's 50-day moving average price is $164.06 and its 200 day moving average price is $170.22. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

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.