Raiffeisen Bank International AG boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 3,890.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,535 shares of the transportation company’s stock after buying an additional 10,271 shares during the period. Raiffeisen Bank International AG’s holdings in Old Dominion Freight Line were worth $2,314,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Bell Investment Advisors Inc acquired a new stake in shares of Old Dominion Freight Line during the second quarter valued at about $25,000. Solstein Capital LLC acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Reflection Asset Management acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $28,000. Finally, Evolution Wealth Management Inc. purchased a new position in shares of Old Dominion Freight Line during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 77.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ODFL. Weiss Ratings lowered Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Stifel Nicolaus set a $263.00 price objective on Old Dominion Freight Line and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Rothschild & Co Redburn lowered their target price on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $226.55.
Old Dominion Freight Line Stock Performance
ODFL opened at $185.87 on Friday. The stock has a market capitalization of $38.54 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 3.19 and a beta of 1.16. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The business’s 50-day simple moving average is $214.60 and its 200-day simple moving average is $210.39.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.
Old Dominion Freight Line Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is presently 22.35%.
Insider Buying and Selling at Old Dominion Freight Line
In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president directly owned 22,746 shares in the company, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.20% of the company’s stock.
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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