Harfst & Associates Inc. Boosts Stake in Old Dominion Freight Line, Inc. $ODFL

Harfst & Associates Inc. grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,120 shares of the transportation company’s stock after acquiring an additional 398 shares during the quarter. Harfst & Associates Inc.’s holdings in Old Dominion Freight Line were worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Stephens Inc. AR grew its stake in shares of Old Dominion Freight Line by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after buying an additional 67 shares in the last quarter. YANKCOM Partnership lifted its holdings in shares of Old Dominion Freight Line by 9.1% in the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 68 shares during the last quarter. Benjamin Edwards Inc. grew its position in Old Dominion Freight Line by 3.1% in the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock worth $392,000 after acquiring an additional 71 shares in the last quarter. iA Global Asset Management Inc. increased its stake in Old Dominion Freight Line by 0.3% during the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after acquiring an additional 72 shares during the last quarter. Finally, STF Management LP raised its position in Old Dominion Freight Line by 2.4% during the second quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock valued at $532,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.4%

Shares of NASDAQ:ODFL opened at $134.91 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $137.76 and its 200 day moving average is $151.19. The stock has a market cap of $28.21 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $228.72.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.43 EPS. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s payout ratio is currently 22.54%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stifel Nicolaus dropped their target price on Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating for the company in a report on Tuesday, October 28th. Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Citigroup initiated coverage on shares of Old Dominion Freight Line in a research report on Wednesday. They set a “buy” rating on the stock. Rothschild & Co Redburn began coverage on shares of Old Dominion Freight Line in a report on Wednesday. They issued a “sell” rating and a $114.00 target price for the company. Finally, The Goldman Sachs Group cut their price target on shares of Old Dominion Freight Line from $186.00 to $181.00 in a report on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $157.27.

Old Dominion Freight Line Company 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.