Cwm LLC Acquires 4,820 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Cwm LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 97.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,750 shares of the transportation company’s stock after buying an additional 4,820 shares during the period. Cwm LLC’s holdings in Old Dominion Freight Line were worth $1,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC raised its position in Old Dominion Freight Line by 113.9% in the 2nd quarter. Park Avenue Securities LLC now owns 6,988 shares of the transportation company’s stock worth $1,234,000 after purchasing an additional 3,721 shares during the period. Value Partners Investments Inc. purchased a new stake in shares of Old Dominion Freight Line in the second quarter worth approximately $1,931,000. Fulton Bank N.A. lifted its stake in shares of Old Dominion Freight Line by 98.2% during the 2nd quarter. Fulton Bank N.A. now owns 9,545 shares of the transportation company’s stock worth $1,686,000 after acquiring an additional 4,728 shares during the last quarter. Mather Group LLC. boosted its holdings in Old Dominion Freight Line by 235.4% during the 2nd quarter. Mather Group LLC. now owns 2,036 shares of the transportation company’s stock valued at $360,000 after acquiring an additional 1,429 shares during the period. Finally, Quent Capital LLC boosted its holdings in Old Dominion Freight Line by 5.5% during the 2nd quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock valued at $226,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America lifted their target price on Old Dominion Freight Line from $192.00 to $203.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Morgan Stanley decreased their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. 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 report on Monday, April 29th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, July 25th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $202.78.

Old Dominion Freight Line Stock Down 1.9 %

Shares of NASDAQ ODFL traded down $3.63 during trading hours on Friday, hitting $192.37. 440,122 shares of the stock were exchanged, compared to its average volume of 1,632,256. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The firm has a fifty day moving average price of $184.95 and a 200-day moving average price of $199.17. The company has a quick ratio of 2.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The company has a market cap of $41.80 billion, a PE ratio of 34.51, a PEG ratio of 3.92 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The business’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 5.73 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

About Old Dominion Freight Line

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.