Caprock Group LLC Invests $1.66 Million in Old Dominion Freight Line, Inc. $ODFL

Caprock Group LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,967 shares of the transportation company’s stock, valued at approximately $1,656,000.

Other hedge funds also recently bought and sold shares of the company. ING Groep NV acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $2,045,000. Stratos Wealth Partners LTD. grew its position in shares of Old Dominion Freight Line by 164.3% in the third quarter. Stratos Wealth Partners LTD. now owns 3,878 shares of the transportation company’s stock valued at $546,000 after purchasing an additional 2,411 shares during the period. MQS Management LLC purchased a new stake in shares of Old Dominion Freight Line during the third quarter worth about $371,000. Midwest Trust Co raised its position in shares of Old Dominion Freight Line by 3.4% during the 3rd quarter. Midwest Trust Co now owns 41,937 shares of the transportation company’s stock worth $5,904,000 after purchasing an additional 1,392 shares during the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new position in Old Dominion Freight Line in the 3rd quarter valued at about $220,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 4.2%

NASDAQ ODFL opened at $193.21 on Friday. The business’s fifty day simple moving average is $171.16 and its 200-day simple moving average is $152.69. The firm has a market cap of $40.40 billion, a PE ratio of 40.00, a P/E/G ratio of 9.26 and a beta of 1.28. 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 data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 5.7% on a year-over-year basis. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio is presently 24.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Argus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Thursday. Wells Fargo & Company boosted their price target on Old Dominion Freight Line from $138.00 to $165.00 and gave the stock an “underweight” rating in a research report on Thursday, February 5th. Evercore raised their price objective on Old Dominion Freight Line from $150.00 to $200.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $195.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, February 4th. Finally, Zacks Research upgraded shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $189.88.

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.