Advisors Asset Management Inc. Has $3.60 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Advisors Asset Management Inc. lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 105.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,418 shares of the transportation company’s stock after acquiring an additional 8,412 shares during the period. Advisors Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $3,601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vident Advisory LLC boosted its holdings in Old Dominion Freight Line by 179.9% in the first quarter. Vident Advisory LLC now owns 22,265 shares of the transportation company’s stock worth $4,883,000 after acquiring an additional 14,310 shares in the last quarter. Fayez Sarofim & Co lifted its holdings in shares of Old Dominion Freight Line by 104.8% in the 1st quarter. Fayez Sarofim & Co now owns 2,066 shares of the transportation company’s stock worth $453,000 after purchasing an additional 1,057 shares in the last quarter. Shell Asset Management Co. grew its position in Old Dominion Freight Line by 63.8% in the 1st quarter. Shell Asset Management Co. now owns 12,916 shares of the transportation company’s stock valued at $2,833,000 after purchasing an additional 5,030 shares during the period. Crewe Advisors LLC bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $38,000. Finally, Evermay Wealth Management LLC raised its holdings in Old Dominion Freight Line by 99.0% during the first quarter. Evermay Wealth Management LLC now owns 400 shares of the transportation company’s stock worth $88,000 after buying an additional 199 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ODFL shares. Barclays reduced their price objective on shares of 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. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. 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 research note on Monday, April 29th. Evercore ISI reaffirmed an “in-line” rating and set a $196.00 target price (down previously from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Finally, BMO Capital Markets increased their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $201.97.

Old Dominion Freight Line Stock Performance

ODFL traded down $2.77 during midday trading on Friday, reaching $202.93. The company had a trading volume of 2,483,986 shares, compared to its average volume of 1,628,115. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The business has a 50-day moving average price of $179.87 and a two-hundred day moving average price of $198.72. The stock has a market cap of $44.09 billion, a PE ratio of 36.21, a P/E/G ratio of 2.58 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.85 earnings per share 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. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Old Dominion Freight Line’s payout ratio is 18.31%.

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.