Old Dominion Freight Line, Inc. $ODFL Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,675 shares of the transportation company’s stock after acquiring an additional 103 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Old Dominion Freight Line were worth $434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Old Dominion Freight Line by 1.9% during the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after purchasing an additional 416,097 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock worth $706,841,000 after purchasing an additional 53,079 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Old Dominion Freight Line by 79.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after purchasing an additional 1,151,221 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Old Dominion Freight Line by 11.4% during the first quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock worth $232,955,000 after purchasing an additional 145,058 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ODFL. Baird R W upgraded Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Monday, August 4th. Raymond James Financial cut their price target on Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Susquehanna boosted their price target on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Finally, Benchmark reiterated a “hold” rating and issued a $102.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $166.95.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $142.39 on Friday. The stock has a fifty day moving average price of $152.96 and a two-hundred day moving average price of $158.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $29.93 billion, a P/E ratio of 27.81, a PEG ratio of 3.29 and a beta of 1.23. Old Dominion Freight Line, Inc. has a 1 year low of $140.71 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company posted $1.48 EPS. Old Dominion Freight Line’s revenue was down 6.1% on a year-over-year basis. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were issued a $0.28 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is presently 21.88%.

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.