Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 31.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,478 shares of the transportation company’s stock after acquiring an additional 60,279 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of Old Dominion Freight Line worth $35,685,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter worth $26,000. Rossby Financial LCC acquired a new position in Old Dominion Freight Line in the second quarter valued at $28,000. Chilton Capital Management LLC purchased a new position in Old Dominion Freight Line during the second quarter worth about $47,000. WPG Advisers LLC purchased a new position in Old Dominion Freight Line during the first quarter worth about $51,000. Finally, Flaharty Asset Management LLC acquired a new stake in Old Dominion Freight Line in the 1st quarter worth about $59,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ODFL shares. Morgan Stanley raised shares of Old Dominion Freight Line from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $165.00 to $190.00 in a research note on Monday, December 8th. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Rothschild Redb raised shares of Old Dominion Freight Line to a “strong sell” rating in a research note on Wednesday, November 26th. Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Finally, Citigroup restated a “buy” rating and set a $170.00 price objective (up from $168.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 3rd. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $155.38.

Old Dominion Freight Line Trading Up 1.8%

NASDAQ:ODFL opened at $158.55 on Friday. The stock has a market cap of $33.15 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 7.70 and a beta of 1.27. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $209.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. The business’s 50-day simple moving average is $140.98 and its 200 day simple moving average is $149.55.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. The company’s revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were paid a $0.28 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 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.