Y Intercept Hong Kong Ltd Buys Shares of 19,884 Old Dominion Freight Line, Inc. $ODFL

Y Intercept Hong Kong Ltd bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,884 shares of the transportation company’s stock, valued at approximately $3,227,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after purchasing an additional 416,097 shares in the last quarter. Invesco Ltd. raised its position in shares of Old Dominion Freight Line by 1.3% in the 1st quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock valued at $706,841,000 after purchasing an additional 53,079 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock valued at $430,006,000 after purchasing an additional 1,151,221 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Old Dominion Freight Line by 45.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after purchasing an additional 754,796 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Old Dominion Freight Line by 11.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock valued at $232,955,000 after purchasing an additional 145,058 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 0.0%

ODFL stock opened at $136.13 on Thursday. The stock has a market cap of $28.61 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 3.22 and a beta of 1.19. The firm’s 50-day simple moving average is $143.49 and its 200 day simple moving average is $153.70. 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 quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. Old Dominion Freight Line’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

Analysts Set New Price Targets

ODFL has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a report on Thursday, July 31st. Robert W. Baird set a $148.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Monday, August 4th. Stephens decreased their price objective on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. Finally, Stifel Nicolaus decreased their price objective on shares of Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating for the company in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $161.62.

About Old Dominion Freight Line

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.