Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Davidson Kahn Capital Management LLC

Davidson Kahn Capital Management LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 47.4% during the 1st quarter, HoldingsChannel reports. The firm owned 7,053 shares of the transportation company’s stock after purchasing an additional 2,267 shares during the quarter. Davidson Kahn Capital Management LLC’s holdings in Old Dominion Freight Line were worth $1,167,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ODFL. Geode Capital Management LLC boosted its stake in Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock worth $870,311,000 after buying an additional 96,410 shares during the last quarter. Norges Bank purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $494,916,000. Capital World Investors boosted its position in shares of Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after acquiring an additional 27,367 shares during the last quarter. Northern Trust Corp increased its position in Old Dominion Freight Line by 15.2% during the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock worth $349,952,000 after purchasing an additional 261,305 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Old Dominion Freight Line by 13.6% during the fourth quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock worth $272,969,000 after purchasing an additional 185,500 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $161.36 on Tuesday. The stock’s 50-day moving average is $159.59 and its two-hundred day moving average is $173.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The company has a market cap of $34.10 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 3.21 and a beta of 1.27.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Wednesday, June 4th. Old Dominion Freight Line’s dividend payout ratio is presently 21.01%.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Friday, May 30th. JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. UBS Group reduced their target price on Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Raymond James Financial set a $185.00 price objective on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Susquehanna lowered their target price on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $176.10.

Old Dominion Freight Line 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.