Russell Investments Group Ltd. Acquires 2,388 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Russell Investments Group Ltd. boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 271,564 shares of the transportation company’s stock after buying an additional 2,388 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.13% of Old Dominion Freight Line worth $44,920,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lido Advisors LLC raised its holdings in Old Dominion Freight Line by 3.2% during the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock valued at $340,000 after buying an additional 59 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Old Dominion Freight Line by 1.4% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,531 shares of the transportation company’s stock valued at $799,000 after buying an additional 63 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Old Dominion Freight Line by 3.0% during the 4th quarter. Benjamin Edwards Inc. now owns 2,297 shares of the transportation company’s stock valued at $405,000 after buying an additional 67 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Old Dominion Freight Line by 4.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,617 shares of the transportation company’s stock valued at $268,000 after buying an additional 71 shares during the last quarter. Finally, City Holding Co. raised its holdings in Old Dominion Freight Line by 1.1% during the 1st quarter. City Holding Co. now owns 7,104 shares of the transportation company’s stock valued at $1,175,000 after buying an additional 75 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $151.11 on Friday. Old Dominion Freight Line, Inc. has a one year low of $140.91 and a one year high of $233.26. The company’s 50-day moving average is $159.69 and its 200 day moving average is $166.08. The company has a market capitalization of $31.76 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 3.53 and a beta of 1.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38.

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

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. 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 currently 21.88%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Benchmark reiterated a “hold” rating and set a $102.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 12th. JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 8th. Stifel Nicolaus reduced their price objective on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Stephens reduced their price objective on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Finally, Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $167.62.

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.