Callan Family Office LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,123 shares of the transportation company’s stock, valued at approximately $1,326,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Old Dominion Freight Line during the second quarter valued at approximately $3,416,007,000. Price T Rowe Associates Inc. MD lifted its holdings in Old Dominion Freight Line by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after purchasing an additional 1,761,511 shares during the last quarter. State Street Corp lifted its holdings in Old Dominion Freight Line by 0.9% during the 4th quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock valued at $1,214,618,000 after purchasing an additional 70,736 shares during the last quarter. Boston Partners boosted its position in Old Dominion Freight Line by 98.4% during the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock worth $648,186,000 after purchasing an additional 2,044,434 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in Old Dominion Freight Line by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock worth $577,137,000 after purchasing an additional 365,424 shares during the period. Institutional investors own 77.82% of the company’s stock.
Wall Street Analysts Forecast Growth
ODFL has been the topic of several research analyst reports. Stifel Nicolaus set a $263.00 price objective on shares of Old Dominion Freight Line and gave the company a “buy” rating in a research report on Thursday, July 30th. TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Zacks Research raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Barclays upped their price target on shares of Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $226.55.
Old Dominion Freight Line Price Performance
ODFL stock opened at $206.47 on Monday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. The stock has a market capitalization of $42.81 billion, a price-to-earnings ratio of 39.78, a PEG ratio of 3.59 and a beta of 1.18. The business’s fifty day moving average price is $220.21 and its two-hundred day moving average price is $210.63.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last announced its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the business posted $1.27 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.
Old Dominion Freight Line Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is 22.35%.
Old Dominion Freight Line Profile
Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.
The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.
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