Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Pointe Capital Management LLC

Pointe Capital Management LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 95.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,944 shares of the transportation company’s stock after purchasing an additional 1,927 shares during the period. Pointe Capital Management LLC’s holdings in Old Dominion Freight Line were worth $865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Headinvest LLC acquired a new position in Old Dominion Freight Line during the third quarter worth approximately $30,000. Finally, Sound Income Strategies LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $34,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on ODFL shares. Vertical Research raised shares of 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. UBS Group upped their price target 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. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Bank of America dropped their target price on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a research report on Thursday, June 6th. Finally, Barclays reduced their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $200.55.

Old Dominion Freight Line Stock Up 2.6 %

Shares of NASDAQ:ODFL traded up $5.03 during midday trading on Monday, reaching $195.25. The company had a trading volume of 1,988,206 shares, compared to its average volume of 1,593,595. The stock has a market capitalization of $42.43 billion, a P/E ratio of 34.38, a PEG ratio of 2.50 and a beta of 1.00. The stock’s fifty day moving average price is $177.51 and its 200-day moving average price is $198.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share 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 company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.9 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

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.