Farther Finance Advisors LLC Raises Position in Old Dominion Freight Line, Inc. $ODFL

Farther Finance Advisors LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,338 shares of the transportation company’s stock after purchasing an additional 576 shares during the period. Farther Finance Advisors LLC’s holdings in Old Dominion Freight Line were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ODFL. T. Rowe Price Investment Management Inc. raised its stake in shares of Old Dominion Freight Line by 79.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after buying an additional 1,151,221 shares in the last quarter. Nuveen LLC purchased a new position in Old Dominion Freight Line in the first quarter worth $151,107,000. JPMorgan Chase & Co. lifted its holdings in Old Dominion Freight Line by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after acquiring an additional 754,796 shares during the period. GAMMA Investing LLC boosted its position in shares of Old Dominion Freight Line by 24,499.9% during the 1st quarter. GAMMA Investing LLC now owns 514,384 shares of the transportation company’s stock worth $85,105,000 after purchasing an additional 512,293 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Old Dominion Freight Line by 1.9% during the 1st 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 during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.3%

Shares of NASDAQ:ODFL opened at $138.59 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $29.13 billion, a P/E ratio of 27.07, a P/E/G ratio of 3.22 and a beta of 1.23. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26. The stock’s fifty day simple moving average is $150.14 and its 200-day simple moving average is $157.35.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 EPS. As a group, equities research analysts forecast 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, September 17th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is presently 21.88%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Baird R W upgraded shares of Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a report on Thursday, July 31st. Citigroup reduced their price target on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Stifel Nicolaus lowered their price target on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Finally, Truist Financial raised their price objective on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $166.95.

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.