Reliant Investment Management LLC Purchases 565 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Reliant Investment Management LLC grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 100.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,130 shares of the transportation company’s stock after acquiring an additional 565 shares during the quarter. Reliant Investment Management LLC’s holdings in Old Dominion Freight Line were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC raised its holdings in Old Dominion Freight Line by 11.8% in the 3rd quarter. LPL Financial LLC now owns 43,585 shares of the transportation company’s stock worth $17,832,000 after purchasing an additional 4,585 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in Old Dominion Freight Line by 14.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock worth $96,000 after purchasing an additional 30 shares during the period. Meeder Advisory Services Inc. raised its holdings in Old Dominion Freight Line by 4.6% in the 3rd quarter. Meeder Advisory Services Inc. now owns 1,321 shares of the transportation company’s stock worth $540,000 after purchasing an additional 58 shares during the period. Vinva Investment Management Ltd bought a new position in Old Dominion Freight Line in the 3rd quarter worth $1,036,000. Finally, Treasurer of the State of North Carolina raised its holdings in Old Dominion Freight Line by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 44,603 shares of the transportation company’s stock worth $18,249,000 after purchasing an additional 160 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Up 1.3 %

ODFL traded up $2.23 on Friday, hitting $176.60. The company had a trading volume of 3,118,740 shares, compared to its average volume of 1,731,722. The company has a market cap of $38.37 billion, a PE ratio of 31.09, a PEG ratio of 2.27 and a beta of 1.02. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $179.13 and its 200 day simple moving average is $200.02.

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

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 annualized dividend and a yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 target price on the stock. Evercore ISI reaffirmed an “in-line” rating and issued a $196.00 target price (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday. UBS Group increased 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. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target for the company. Finally, Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a research note on Wednesday, May 8th. One research 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. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $201.18.

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.