Valmark Advisers Inc. Has $759,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Valmark Advisers Inc. boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 88.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,589 shares of the transportation company’s stock after acquiring an additional 2,158 shares during the quarter. Valmark Advisers Inc.’s holdings in Old Dominion Freight Line were worth $759,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. American National Bank & Trust acquired a new position in Old Dominion Freight Line during the first quarter worth $30,000. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. raised its stake in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after acquiring an additional 192 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Old Dominion Freight Line during the fourth quarter worth $51,000. Finally, CoreCap Advisors LLC raised its stake in Old Dominion Freight Line by 98.2% during the fourth quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock worth $60,000 after acquiring an additional 168 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $161.97 on Wednesday. The firm has a market capitalization of $34.23 billion, a P/E ratio of 30.39, a PEG ratio of 3.31 and a beta of 1.26. Old Dominion Freight Line, Inc. has a 1 year low of $144.90 and a 1 year high of $233.26. The business has a 50-day moving average of $159.77 and a 200-day moving average of $173.08. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.01.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, June 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.01%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ODFL. Jefferies Financial Group dropped their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Benchmark restated a “hold” rating and issued a $102.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, June 12th. Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lowered their target price on Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, Stephens restated an “overweight” rating and issued a $180.00 target price (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.