Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 98.4% during the 1st quarter, Holdings Channel reports. The fund owned 1,393 shares of the transportation company’s stock after purchasing an additional 691 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Old Dominion Freight Line were worth $306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Old Dominion Freight Line by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after buying an additional 81,122 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Old Dominion Freight Line by 94.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after acquiring an additional 2,888,205 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Old Dominion Freight Line by 0.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after acquiring an additional 12,016 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Old Dominion Freight Line by 95.9% during the 1st quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock worth $435,593,000 after acquiring an additional 972,531 shares in the last quarter. Finally, Norges Bank purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $495,387,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 1.9 %

ODFL stock traded up $3.32 during midday trading on Wednesday, hitting $181.73. 860,096 shares of the company’s stock were exchanged, compared to its average volume of 1,584,511. The stock has a market capitalization of $39.49 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $177.05 and a 200-day moving average price of $199.22. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current 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 0.57%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analyst Ratings Changes

Several brokerages recently commented on ODFL. Raymond James cut their price target on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Wells Fargo & Company began coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price for the company. Morgan Stanley reduced their price target 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. UBS Group upped their price target on shares of 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. Finally, TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $200.55.

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.