United Services Automobile Association Makes New $715,000 Investment in Old Dominion Freight Line, Inc. $ODFL

Key Points

• The United Services Automobile Association acquired a new stake of 4,337 shares in Old Dominion Freight Line, valued at approximately $715,000.
• Old Dominion Freight Line reported earnings per share of $1.27 for the last quarter, missing the consensus estimate, and experienced a 6.1% decrease in revenue year-over-year.
• The company has announced a quarterly dividend of $0.28, which will be paid on September 17th, representing an annualized yield of 0.8%.

United Services Automobile Association purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,337 shares of the transportation company's stock, valued at approximately $715,000.

Several other institutional investors have also added to or reduced their stakes in ODFL. Larson Financial Group LLC raised its position in Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after acquiring an additional 108 shares during the period. American National Bank & Trust bought a new position in Old Dominion Freight Line in the first quarter worth approximately $30,000. Wayfinding Financial LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at $39,000. Zions Bancorporation National Association UT bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at $39,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at $43,000. 77.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Susquehanna decreased 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 report on Wednesday, June 18th. Stifel Nicolaus decreased their price objective 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. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. decreased their price objective on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and a consensus target price of $167.14.

Old Dominion Freight Line Price Performance

ODFL traded up $1.12 during trading on Monday, hitting $146.01. 373,492 shares of the company traded hands, compared to its average volume of 1,838,024. The company has a market cap of $30.69 billion, a PE ratio of 28.52, a P/E/G ratio of 3.37 and a beta of 1.23. The stock's 50-day simple moving average is $154.84 and its two-hundred day simple moving average is $159.55. Old Dominion Freight Line, Inc. has a 1 year low of $140.71 and a 1 year high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04.

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 the consensus estimate 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 business's revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 earnings per share. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.88%.

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.