United Capital Financial Advisors LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,282 shares of the transportation company's stock, valued at approximately $6,126,000.
A number of other large investors have also added to or reduced their stakes in the stock. Bell Investment Advisors Inc acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at $25,000. Solstein Capital LLC bought a new position in shares of Old Dominion Freight Line in the second quarter worth $26,000. EFG International AG bought a new position in shares of Old Dominion Freight Line in the second quarter worth $29,000. Transamerica Financial Advisors LLC acquired a new position in Old Dominion Freight Line in the second quarter valued at about $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in Old Dominion Freight Line by 80.5% in the first 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. Institutional investors and hedge funds own 77.82% of the company's stock.
Insider Buying and Selling
In other news, SVP Cecil E. Jr. Overbey sold 19,952 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the sale, the senior vice president directly owned 22,746 shares of the company's stock, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.20% of the company's stock.
Old Dominion Freight Line Stock Performance
Shares of NASDAQ:ODFL opened at $200.06 on Friday. The company has a fifty day moving average of $218.02 and a 200-day moving average of $210.60. The company has a market capitalization of $41.48 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 3.46 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the prior year, the company earned $1.27 EPS. Old Dominion Freight Line's revenue was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.
Old Dominion Freight Line Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 22.35%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on ODFL. Raymond James Financial reaffirmed an "outperform" rating and set a $241.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research report on Monday, July 13th. Wells Fargo & Company raised shares of Old Dominion Freight Line from an "underweight" rating to an "overweight" rating and raised their target price for the company from $235.00 to $250.00 in a report on Wednesday, July 8th. Jefferies Financial Group restated a "hold" rating and issued a $227.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Morgan Stanley reaffirmed an "equal weight" rating and set a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. Finally, Zacks Research upgraded shares of Old Dominion Freight Line from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average target price of $226.55.
Get Our Latest Stock Report on ODFL
About Old Dominion Freight Line
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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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