Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 58.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,457 shares of the transportation company’s stock after purchasing an additional 13,870 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Old Dominion Freight Line were worth $8,215,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ODFL. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. increased its position in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $29,000. Fortitude Family Office LLC increased its position in shares of Old Dominion Freight Line by 103.0% in the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 68 shares during the period. Finally, Washington Trust Advisors Inc. increased its position in shares of Old Dominion Freight Line by 138.3% in the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 83 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ODFL shares. Barclays cut their target price on 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. TD Cowen upped their price target on shares of Old Dominion Freight Line from $206.00 to $214.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Susquehanna lowered their price target on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a report on Monday, April 29th. Finally, Raymond James upped their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $202.78.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock traded down $8.08 during midday trading on Friday, reaching $195.12. The company had a trading volume of 2,107,060 shares, compared to its average volume of 1,812,447. The company has a market capitalization of $42.40 billion, a P/E ratio of 34.35, a P/E/G ratio of 3.92 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The firm’s fifty day simple moving average is $183.14 and its 200-day simple moving average is $199.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 2.29.

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

Old Dominion Freight Line Announces Dividend

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

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Thomas A. Stith III 550 shares of the stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.90% of the stock is owned by insiders.

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.