Old Dominion Freight Line, Inc. (ODFL) Stake Increased by HL Financial Services LLC

HL Financial Services LLC raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,377 shares of the transportation company’s stock after buying an additional 2,545 shares during the period. HL Financial Services LLC’s holdings in Old Dominion Freight Line were worth $3,560,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Teachers Advisors LLC raised its stake in Old Dominion Freight Line by 40.9% in the fourth quarter. Teachers Advisors LLC now owns 84,079 shares of the transportation company’s stock valued at $7,213,000 after buying an additional 24,415 shares during the last quarter. Bank of Montreal Can raised its stake in Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock valued at $3,469,000 after buying an additional 36,224 shares during the last quarter. Capstone Asset Management Co. raised its stake in Old Dominion Freight Line by 2.1% in the first quarter. Capstone Asset Management Co. now owns 7,313 shares of the transportation company’s stock valued at $626,000 after buying an additional 150 shares during the last quarter. Parametrica Management Ltd acquired a new stake in Old Dominion Freight Line during the first quarter valued at approximately $286,000. Finally, Atria Investments LLC raised its stake in Old Dominion Freight Line by 2.6% in the first quarter. Atria Investments LLC now owns 2,772 shares of the transportation company’s stock valued at $237,000 after buying an additional 69 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of Old Dominion Freight Line, Inc. (ODFL) traded down 0.67% on Friday, hitting $94.79. 323,471 shares of the stock traded hands. The stock has a market cap of $7.81 billion, a P/E ratio of 24.55 and a beta of 1.08. Old Dominion Freight Line, Inc. has a 52-week low of $66.33 and a 52-week high of $103.51. The stock’s 50 day moving average price is $97.19 and its 200 day moving average price is $90.74.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.09. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The business had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. During the same period last year, the business earned $0.98 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post $4.14 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 10.39%.

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ODFL has been the topic of several research reports. Cowen and Company boosted their price objective on shares of Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research note on Thursday, April 27th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Bank of America Corporation raised shares of Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $83.00 to $96.00 in a research note on Tuesday, June 6th. BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $109.00 target price (up previously from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $97.67.

In related news, Vice Chairman David S. Congdon sold 575 shares of Old Dominion Freight Line stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total value of $56,252.25. Following the completion of the sale, the insider now directly owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.00% of the stock is owned by company insiders.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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