Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Ascent Group LLC

Ascent Group LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 440.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,564 shares of the transportation company’s stock after acquiring an additional 6,980 shares during the quarter. Ascent Group LLC’s holdings in Old Dominion Freight Line were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new stake in shares of Old Dominion Freight Line during the second quarter valued at $26,000. Rossby Financial LCC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth about $28,000. Chilton Capital Management LLC purchased a new position in Old Dominion Freight Line during the second quarter worth about $47,000. Flaharty Asset Management LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at approximately $59,000. Finally, Blue Trust Inc. boosted its holdings in shares of Old Dominion Freight Line by 65.5% in the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 1.6%

Old Dominion Freight Line stock opened at $156.80 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $209.61. The firm has a market capitalization of $32.79 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 8.31 and a beta of 1.27. The firm has a 50-day moving average price of $145.04 and a two-hundred day moving average price of $149.29. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is 22.54%.

Analysts Set New Price Targets

A number of analysts recently issued reports on ODFL shares. Zacks Research raised shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Raymond James Financial reissued an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Stifel Nicolaus set a $173.00 price target on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Finally, Evercore ISI cut their target price on shares of Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating on the stock in a research note on Thursday, October 30th. Ten 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $155.58.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.