City Holding Co. Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

City Holding Co. boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 135.0% during the second quarter, Holdings Channel.com reports. The firm owned 5,794 shares of the transportation company’s stock after buying an additional 3,328 shares during the period. City Holding Co.’s holdings in Old Dominion Freight Line were worth $1,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in Old Dominion Freight Line by 22.5% during the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after buying an additional 27 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Old Dominion Freight Line by 1.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after acquiring an additional 30 shares during the last quarter. Freedom Day Solutions LLC boosted its holdings in shares of Old Dominion Freight Line by 0.8% during the fourth quarter. Freedom Day Solutions LLC now owns 4,863 shares of the transportation company’s stock worth $1,971,000 after purchasing an additional 40 shares during the period. Partners Capital Investment Group LLP boosted its holdings in shares of Old Dominion Freight Line by 6.1% during the fourth quarter. Partners Capital Investment Group LLP now owns 697 shares of the transportation company’s stock worth $283,000 after purchasing an additional 40 shares during the period. Finally, Hunter Associates Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 1.4% in the fourth quarter. Hunter Associates Investment Management LLC now owns 3,411 shares of the transportation company’s stock worth $1,383,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL traded down $2.77 during trading hours on Friday, reaching $193.23. 2,169,928 shares of the company traded hands, compared to its average volume of 1,643,562. 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 business has a fifty day moving average price of $185.31 and a 200-day moving average price of $199.11. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The stock has a market capitalization of $41.99 billion, a P/E ratio of 34.02, a P/E/G ratio of 3.92 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last announced 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 net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $1.33 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given 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 dividend yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group increased their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Susquehanna cut 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. Raymond James boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Morgan Stanley dropped their target price on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Finally, TD Cowen boosted 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 research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $202.78.

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.