Sequoia Financial Advisors LLC Raises Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Sequoia Financial Advisors LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 36.7% in the 2nd quarter, Holdings Channel reports. The firm owned 7,739 shares of the transportation company’s stock after acquiring an additional 2,079 shares during the period. Sequoia Financial Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Old Dominion Freight Line by 48.7% during the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after purchasing an additional 1,018 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Old Dominion Freight Line by 9.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock worth $2,911,000 after purchasing an additional 1,529 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Old Dominion Freight Line by 5.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock worth $1,507,000 after purchasing an additional 443 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Old Dominion Freight Line by 29.0% during the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock worth $395,000 after purchasing an additional 537 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC grew its holdings in shares of Old Dominion Freight Line by 6.0% during the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock worth $17,839,000 after purchasing an additional 6,133 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent analyst reports. Evercore ISI cut their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating for the company in a report on Tuesday, September 30th. Barclays dropped their target price on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Wells Fargo & Company dropped their target price on Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a research report on Thursday, July 31st. Wolfe Research boosted their target price on Old Dominion Freight Line from $129.00 to $140.00 in a research report on Tuesday, October 7th. Finally, TD Cowen dropped their target price on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $163.86.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $138.04 on Friday. The firm has a market cap of $29.01 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 3.26 and a beta of 1.19. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The business has a 50 day moving average price of $145.42 and a 200-day moving average price of $154.75.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share 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 analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.48 EPS. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

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.