Salomon & Ludwin LLC Acquires 163 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Salomon & Ludwin LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 100.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 326 shares of the transportation company’s stock after purchasing an additional 163 shares during the period. Salomon & Ludwin LLC’s holdings in Old Dominion Freight Line were worth $71,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Financial Counselors Inc. lifted its stake in Old Dominion Freight Line by 111.7% in the first quarter. Financial Counselors Inc. now owns 33,197 shares of the transportation company’s stock valued at $7,280,000 after buying an additional 17,518 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Old Dominion Freight Line by 96.1% during the first quarter. Mutual of America Capital Management LLC now owns 27,410 shares of the transportation company’s stock worth $6,011,000 after purchasing an additional 13,431 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Old Dominion Freight Line by 121.8% during the first quarter. Daiwa Securities Group Inc. now owns 34,822 shares of the transportation company’s stock worth $7,637,000 after purchasing an additional 19,124 shares during the period. Graypoint LLC raised its position in shares of Old Dominion Freight Line by 99.7% during the first quarter. Graypoint LLC now owns 1,320 shares of the transportation company’s stock worth $290,000 after purchasing an additional 659 shares during the period. Finally, Pittenger & Anderson Inc. raised its position in shares of Old Dominion Freight Line by 119.2% during the first quarter. Pittenger & Anderson Inc. now owns 16,530 shares of the transportation company’s stock worth $3,625,000 after purchasing an additional 8,990 shares during the period. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research analyst reports. UBS Group lifted their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. TD Cowen dropped their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a report on Friday, April 26th. Bank of America dropped their price objective on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a report on Thursday, June 6th. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective for the company. Finally, Raymond James lowered their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $200.55.

Old Dominion Freight Line Stock Down 1.5 %

ODFL stock traded down $2.65 during trading on Tuesday, hitting $178.41. 1,151,592 shares of the company’s stock traded hands, compared to its average volume of 1,589,798. The firm has a market capitalization of $38.77 billion, a P/E ratio of 31.88, a PEG ratio of 2.38 and a beta of 1.00. The business has a fifty day simple moving average of $177.11 and a two-hundred day simple moving average of $199.42. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.58%. Old Dominion Freight Line’s payout ratio is currently 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.