Townsquare Capital LLC Has $4.14 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Key Points

• Townsquare Capital LLC increased its stake in Old Dominion Freight Line by 9.7%, owning 25,033 shares valued at approximately $4.14 million as of the latest SEC filing.
• Several research analysts have varied opinions on Old Dominion's stock, with price targets ranging from $145 to $183, and an average rating of "Hold" from analysts.
• Old Dominion Freight Line announced a quarterly dividend of $0.28 per share, representing an annualized yield of 0.8%, with a payout ratio of 21.88%.

Townsquare Capital LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 9.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,033 shares of the transportation company's stock after buying an additional 2,212 shares during the quarter. Townsquare Capital LLC's holdings in Old Dominion Freight Line were worth $4,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ODFL. Brighton Jones LLC boosted its stake in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after buying an additional 79 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Old Dominion Freight Line by 23.3% in the fourth quarter. Advisory Services Network LLC now owns 7,859 shares of the transportation company's stock valued at $1,386,000 after purchasing an additional 1,484 shares in the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Old Dominion Freight Line by 2.1% during the fourth quarter. Granite Investment Partners LLC now owns 93,945 shares of the transportation company's stock valued at $16,572,000 after acquiring an additional 1,941 shares during the period. Summit Investment Advisors Inc. lifted its position in Old Dominion Freight Line by 2.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,268 shares of the transportation company's stock worth $2,517,000 after buying an additional 345 shares in the last quarter. Finally, Savvy Advisors Inc. bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $435,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ODFL shares. Robert W. Baird set a $148.00 price target on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research note on Monday, August 4th. Stephens cut their target price on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Vertical Research upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Thursday, July 31st. UBS Group decreased their target price on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Finally, Stifel Nicolaus cut their target price on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating on the stock in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $167.62.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $2.35 during mid-day trading on Thursday, reaching $151.11. The company had a trading volume of 1,562,644 shares, compared to its average volume of 1,844,910. 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 company has a 50 day moving average of $159.87 and a 200-day moving average of $166.38. The firm has a market cap of $31.76 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 3.44 and a beta of 1.24. Old Dominion Freight Line, Inc. has a 52 week low of $140.91 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The company's revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Old Dominion Freight Line's payout ratio is 21.88%.

About Old Dominion Freight Line

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.