Caxton Associates LLP Raises Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Caxton Associates LLP lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 85.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,303 shares of the transportation company’s stock after acquiring an additional 13,490 shares during the period. Caxton Associates LLP’s holdings in Old Dominion Freight Line were worth $4,756,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth about $26,000. Rossby Financial LCC purchased a new position in shares of Old Dominion Freight Line during the second quarter valued at approximately $28,000. Chilton Capital Management LLC acquired a new stake in Old Dominion Freight Line during the second quarter worth approximately $47,000. WPG Advisers LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter worth approximately $51,000. Finally, Flaharty Asset Management LLC acquired a new position in Old Dominion Freight Line in the 1st quarter valued at $59,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ODFL. TD Cowen reduced their price target on Old Dominion Freight Line from $159.00 to $154.00 in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. BMO Capital Markets raised shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $172.00 to $170.00 in a research note on Monday, December 1st. JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $144.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, December 8th. Finally, Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $154.48.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $159.49 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The company has a market cap of $33.35 billion, a PE ratio of 32.09, a P/E/G ratio of 4.16 and a beta of 1.27. The company’s fifty day simple moving average is $139.81 and its 200-day simple moving average is $149.58. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $209.61.

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

Old Dominion Freight Line Announces Dividend

The business 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 $0.28 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

Old Dominion Freight Line Company 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.