Davidson Kahn Capital Management LLC Raises Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Davidson Kahn Capital Management LLC boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 47.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 7,053 shares of the transportation company’s stock after acquiring an additional 2,267 shares during the quarter. Davidson Kahn Capital Management LLC’s holdings in Old Dominion Freight Line were worth $1,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $630,000. Ameriprise Financial Inc. raised its position in Old Dominion Freight Line by 2.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company’s stock worth $223,281,000 after buying an additional 35,778 shares during the last quarter. Callan Family Office LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $307,000. one8zero8 LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $431,000. Finally, Sciencast Management LP purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $309,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ODFL. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 target price for the company. Bank of America increased their price target on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Raymond James Financial set a $185.00 price objective on Old Dominion Freight Line and gave the company an “outperform” rating in a report on Thursday, April 24th. Morgan Stanley set a $185.00 target price on Old Dominion Freight Line in a report on Wednesday, April 2nd. Finally, Benchmark reiterated a “hold” rating and set a $102.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $176.10.

Old Dominion Freight Line Stock Up 3.1%

ODFL opened at $161.36 on Tuesday. The company has a market cap of $34.10 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 3.21 and a beta of 1.27. Old Dominion Freight Line, Inc. has a twelve month low of $144.90 and a twelve month high of $233.26. The company has a 50-day moving average price of $159.59 and a 200 day moving average price of $173.16. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.28 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. Old Dominion Freight Line’s payout ratio is currently 21.01%.

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.