MGO One Seven LLC Invests $3.06 Million in Old Dominion Freight Line, Inc. $ODFL

MGO One Seven LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, Holdings Channel reports. The fund bought 18,881 shares of the transportation company’s stock, valued at approximately $3,064,000.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 108 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at about $39,000. Zions Bancorporation National Association UT purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at about $39,000. Olde Wealth Management LLC purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at about $43,000. Finally, WPG Advisers LLC purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at about $51,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL opened at $135.43 on Wednesday. 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 stock has a market capitalization of $28.46 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.19 and a beta of 1.19. The company’s 50-day simple moving average is $145.99 and its two-hundred day simple moving average is $155.28. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $1.48 EPS. Old Dominion Freight Line’s revenue was down 6.1% on a year-over-year basis. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

Analysts Set New Price Targets

ODFL has been the topic of several recent analyst reports. Barclays cut their price objective on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. TD Cowen cut their price objective on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research report on Thursday, July 31st. Susquehanna increased their price objective on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Raymond James Financial set a $160.00 target price on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a research note on Tuesday. Finally, Evercore ISI lowered their target price on shares of Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 30th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $163.86.

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.