V Square Quantitative Management LLC Buys 572 Shares of Old Dominion Freight Line, Inc. $ODFL

V Square Quantitative Management LLC increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 16.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,040 shares of the transportation company’s stock after purchasing an additional 572 shares during the period. V Square Quantitative Management LLC’s holdings in Old Dominion Freight Line were worth $656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC grew its holdings in shares of Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares during the last quarter. American National Bank & Trust purchased a new position in shares of Old Dominion Freight Line in the first quarter worth $30,000. Zions Bancorporation National Association UT purchased a new stake in shares of Old Dominion Freight Line during the first quarter valued at $39,000. Wayfinding Financial LLC purchased a new position in Old Dominion Freight Line in the 1st quarter worth about $39,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line in the first quarter worth approximately $43,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $141.04 on Tuesday. The business’s fifty day moving average is $149.70 and its 200 day moving average is $157.20. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $29.64 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 3.22 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $1.48 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, July 8th. Baird R W upgraded Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. TD Cowen reduced their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a research report on Thursday, July 31st. Benchmark reissued a “hold” rating and issued a $102.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Finally, Stifel Nicolaus cut their price target on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $166.95.

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.