Sequoia Financial Advisors LLC Raises Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sequoia Financial Advisors LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 53.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,567 shares of the transportation company’s stock after acquiring an additional 1,600 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of Old Dominion Freight Line by 94.6% during the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after purchasing an additional 2,888,205 shares in the last quarter. Norges Bank acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $495,387,000. WCM Investment Management LLC boosted its holdings in Old Dominion Freight Line by 95.9% in the 1st quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock worth $435,593,000 after acquiring an additional 972,531 shares during the period. International Assets Investment Management LLC grew its position in Old Dominion Freight Line by 39,016.7% in the fourth quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock valued at $285,869,000 after acquiring an additional 703,471 shares in the last quarter. Finally, Canal Capital Management LLC raised its stake in shares of Old Dominion Freight Line by 100.8% during the first quarter. Canal Capital Management LLC now owns 565,496 shares of the transportation company’s stock valued at $124,019,000 after purchasing an additional 283,884 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 0.5 %

NASDAQ:ODFL opened at $182.77 on Friday. The firm has a market capitalization of $39.71 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 2.38 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average of $177.18 and a 200-day moving average of $199.59.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Analysts predict that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 annualized dividend and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analyst Ratings Changes

ODFL has been the subject of several analyst reports. Susquehanna decreased their target price on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, June 12th. Baird R W raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Evercore ISI reaffirmed an “in-line” rating and set a $196.00 target price (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Robert W. Baird raised Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a report on Wednesday, May 8th. Finally, Raymond James dropped their price objective on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $201.18.

Check Out Our Latest Stock Report on ODFL

Old Dominion Freight Line Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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