Associated Banc Corp Boosts Stake in Old Dominion Freight Line, Inc. $ODFL

Associated Banc Corp grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 291.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,775 shares of the transportation company’s stock after purchasing an additional 31,105 shares during the period. Associated Banc Corp’s holdings in Old Dominion Freight Line were worth $6,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stephens Inc. AR boosted its holdings in shares of Old Dominion Freight Line by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock valued at $1,665,000 after purchasing an additional 67 shares during the last quarter. YANKCOM Partnership boosted its holdings in Old Dominion Freight Line by 9.1% in the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 68 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Old Dominion Freight Line by 3.1% in the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock valued at $392,000 after acquiring an additional 71 shares during the last quarter. iA Global Asset Management Inc. grew its position in Old Dominion Freight Line by 0.3% during the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after acquiring an additional 72 shares during the period. Finally, STF Management LP increased its stake in Old Dominion Freight Line by 2.4% during the second quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock worth $532,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.5%

Shares of Old Dominion Freight Line stock opened at $132.33 on Tuesday. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $228.72. The company has a market capitalization of $27.67 billion, a PE ratio of 26.63, a P/E/G ratio of 3.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. The business has a 50-day moving average of $138.15 and a 200-day moving average of $151.47.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. The company’s revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is 22.54%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ODFL. Stifel Nicolaus reduced their price objective on Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating on the stock in a research note on Tuesday, October 28th. Robert W. Baird set a $148.00 price target on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Monday, August 4th. Susquehanna increased their price objective on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Old Dominion Freight Line from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $159.33.

About Old Dominion Freight Line

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.