Old Dominion Freight Line, Inc. (ODFL) Shares Bought by Pier Capital LLC

Pier Capital LLC increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,959 shares of the transportation company’s stock after buying an additional 34 shares during the period. Pier Capital LLC’s holdings in Old Dominion Freight Line were worth $510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Columbia Asset Management acquired a new stake in Old Dominion Freight Line during the third quarter worth approximately $213,000. Northern Trust Corp boosted its stake in Old Dominion Freight Line by 1.9% in the third quarter. Northern Trust Corp now owns 724,940 shares of the transportation company’s stock worth $49,739,000 after buying an additional 13,760 shares during the period. Principal Financial Group Inc. boosted its stake in Old Dominion Freight Line by 5.8% in the third quarter. Principal Financial Group Inc. now owns 274,970 shares of the transportation company’s stock worth $18,866,000 after buying an additional 14,998 shares during the period. Advantus Capital Management Inc boosted its stake in Old Dominion Freight Line by 2.2% in the third quarter. Advantus Capital Management Inc now owns 8,470 shares of the transportation company’s stock worth $581,000 after buying an additional 184 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in Old Dominion Freight Line by 41.9% in the third quarter. Ameritas Investment Partners Inc. now owns 34,076 shares of the transportation company’s stock worth $2,337,000 after buying an additional 10,058 shares during the period. Institutional investors own 74.95% of the company’s stock.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

Shares of Old Dominion Freight Line, Inc. (NASDAQ ODFL) traded up 0.51% during mid-day trading on Friday, hitting $94.70. The stock had a trading volume of 701,498 shares. Old Dominion Freight Line, Inc. has a 52-week low of $56.74 and a 52-week high of $96.46. The stock has a 50 day moving average price of $88.96 and a 200-day moving average price of $88.05. The company has a market cap of $7.81 billion, a PE ratio of 26.00 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, April 27th. The transportation company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. Old Dominion Freight Line had a return on equity of 16.52% and a net margin of 9.92%. The firm had revenue of $754.10 million during the quarter, compared to the consensus estimate of $751.84 million. During the same period last year, the business posted $0.72 EPS. Old Dominion Freight Line’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post $3.96 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, June 2nd. Old Dominion Freight Line’s payout ratio is currently 10.99%.

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A number of research firms have recently commented on ODFL. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $83.00 to $96.00 in a research report on Tuesday, June 6th. Zacks Investment Research cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Wednesday, March 8th. Cowen and Company boosted their price objective on Old Dominion Freight Line from $88.00 to $92.00 and gave the company a “market perform” rating in a research report on Thursday, April 27th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $96.00 price objective (up from $92.00) on shares of Old Dominion Freight Line in a research report on Monday, March 6th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Old Dominion Freight Line has an average rating of “Buy” and a consensus target price of $94.63.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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