Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Harfst & Associates Inc.

Harfst & Associates Inc. lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 11,722 shares of the transportation company’s stock after buying an additional 562 shares during the period. Harfst & Associates Inc.’s holdings in Old Dominion Freight Line were worth $1,939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Lord Abbett & CO. LLC lifted its holdings in shares of Old Dominion Freight Line by 49.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 350,126 shares of the transportation company’s stock valued at $57,928,000 after acquiring an additional 115,332 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Old Dominion Freight Line by 30.0% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 23,862 shares of the transportation company’s stock valued at $3,948,000 after acquiring an additional 5,500 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in Old Dominion Freight Line by 98.5% in the 1st quarter. E Fund Management Co. Ltd. now owns 5,893 shares of the transportation company’s stock worth $975,000 after buying an additional 2,924 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Old Dominion Freight Line by 0.6% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,578 shares of the transportation company’s stock worth $5,721,000 after buying an additional 191 shares in the last quarter. Finally, S Bank Fund Management Ltd acquired a new position in Old Dominion Freight Line in the 1st quarter worth $602,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL opened at $153.46 on Thursday. The firm has a market cap of $32.25 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The company’s 50-day moving average price is $159.87 and its 200 day moving average price is $166.38. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a fifty-two week low of $140.91 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. Old Dominion Freight Line’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 earnings per share. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of recent analyst reports. Barclays set a $155.00 price objective on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Monday, August 4th. Baird R W upgraded shares of Old Dominion Freight Line to a “hold” rating in a report on Tuesday, July 1st. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $200.00 in a report on Monday, June 2nd. Finally, UBS Group cut their price objective on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $167.62.

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.