Vestmark Advisory Solutions Inc. Buys 2,073 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Old Dominion Freight Line by 144.1%, acquiring an additional 2,073 shares in the first quarter, bringing its total holdings to 3,512 shares valued at $581,000.
• Old Dominion Freight Line's stock price decreased by 2.9% to $150.24, with a 1-year high of $233.26, following a quarterly earnings report that missed estimates.
• The company announced a quarterly dividend of $0.28 per share, scheduled to be paid on September 17, with an annualized yield of 0.7%.

Vestmark Advisory Solutions Inc. grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 144.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,512 shares of the transportation company's stock after purchasing an additional 2,073 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Old Dominion Freight Line were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of 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 in the last quarter. American National Bank & Trust purchased a new stake in shares of Old Dominion Freight Line in the first quarter valued at about $30,000. Wayfinding Financial LLC purchased a new stake in shares of Old Dominion Freight Line in the first quarter valued at about $39,000. Zions Bancorporation National Association UT purchased a new stake in shares of Old Dominion Freight Line in the first quarter valued at about $39,000. Finally, Itau Unibanco Holding S.A. raised its holdings in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock traded up $9.5840 during mid-day trading on Friday, reaching $159.3340. 1,427,296 shares of the stock were exchanged, compared to its average volume of 1,844,850. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a market cap of $33.49 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. Old Dominion Freight Line, Inc. has a fifty-two week low of $140.91 and a fifty-two week high of $233.26. The firm has a 50-day simple moving average of $158.52 and a 200 day simple moving average of $164.88.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company's revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 EPS. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group lowered their price target on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Barclays set a $155.00 price target on shares of Old Dominion Freight Line and gave the company an "equal weight" rating in a report on Thursday, July 31st. Stifel Nicolaus decreased their price target on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $158.00 to $146.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $167.62.

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.