2,533 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,533 shares of the transportation company’s stock, valued at approximately $447,000.

A number of other large investors have also bought and sold shares of the business. Quent Capital LLC grew its stake in shares of Old Dominion Freight Line by 93.6% during the 1st quarter. Quent Capital LLC now owns 1,210 shares of the transportation company’s stock worth $266,000 after acquiring an additional 585 shares in the last quarter. SRN Advisors LLC grew its stake in shares of Old Dominion Freight Line by 111.2% during the 1st quarter. SRN Advisors LLC now owns 6,046 shares of the transportation company’s stock worth $1,326,000 after acquiring an additional 3,183 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Old Dominion Freight Line by 133.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,059 shares of the transportation company’s stock worth $452,000 after acquiring an additional 1,176 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Old Dominion Freight Line by 58.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 37,457 shares of the transportation company’s stock worth $8,215,000 after acquiring an additional 13,870 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Old Dominion Freight Line by 89.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 14,688 shares of the transportation company’s stock valued at $3,222,000 after buying an additional 6,944 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Down 4.0 %

Shares of ODFL stock traded down $8.08 during mid-day trading on Friday, reaching $195.12. 2,107,060 shares of the stock traded hands, compared to its average volume of 1,812,447. The stock’s fifty day simple moving average is $183.14 and its two-hundred day simple moving average is $199.18. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The company has a market cap of $42.40 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 3.92 and a beta of 1.00. The company has a quick ratio of 2.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Analyst Ratings Changes

ODFL has been the subject of several recent analyst reports. Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a report on Monday, April 29th. Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target for the company. Susquehanna cut their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, June 12th. BMO Capital Markets lifted their target price on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays dropped their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $202.78.

Insider Activity

In related news, Director Thomas A. Stith III 550 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Company 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.