Strategic Capital Advisers Inc. Purchases New Position in Old Dominion Freight Line (ODFL)

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Strategic Capital Advisers Inc. purchased a new position in Old Dominion Freight Line (NASDAQ:ODFL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,898 shares of the transportation company’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc increased its position in shares of Old Dominion Freight Line by 4.1% during the third quarter. Legal & General Group Plc now owns 337,204 shares of the transportation company’s stock valued at $54,378,000 after buying an additional 13,251 shares during the period. Vanguard Group Inc increased its position in shares of Old Dominion Freight Line by 2.4% during the third quarter. Vanguard Group Inc now owns 6,456,920 shares of the transportation company’s stock valued at $1,041,243,000 after buying an additional 153,943 shares during the period. Virtu Financial LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $329,000. Meeder Asset Management Inc. increased its position in shares of Old Dominion Freight Line by 184.6% during the fourth quarter. Meeder Asset Management Inc. now owns 3,634 shares of the transportation company’s stock valued at $448,000 after buying an additional 2,357 shares during the period. Finally, Gillespie Robinson & Grimm Inc. increased its position in shares of Old Dominion Freight Line by 14.8% during the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 189,695 shares of the transportation company’s stock valued at $23,425,000 after buying an additional 24,455 shares during the period. 71.92% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on ODFL shares. Zacks Investment Research cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. Cowen boosted their price target on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a research report on Thursday, February 7th. KeyCorp boosted their price objective on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 8th. Bank of America lowered shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $154.00 to $158.00 in a research note on Tuesday, February 26th. Finally, Seaport Global Securities reissued a “buy” rating on shares of Old Dominion Freight Line in a research note on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $149.20.

In other news, SVP David J. Bates sold 1,951 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $151.84, for a total value of $296,239.84. Following the transaction, the senior vice president now owns 6,027 shares in the company, valued at $915,139.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.90% of the company’s stock.

Shares of NASDAQ ODFL traded up $0.07 during midday trading on Monday, hitting $146.20. The stock had a trading volume of 9,017 shares, compared to its average volume of 537,998. The company has a market cap of $11.83 billion, a PE ratio of 19.66, a P/E/G ratio of 2.14 and a beta of 1.43. Old Dominion Freight Line has a 52 week low of $115.00 and a 52 week high of $170.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.19 and a current ratio of 2.19.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, April 25th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.06. The firm had revenue of $990.78 million for the quarter, compared to the consensus estimate of $1 billion. Old Dominion Freight Line had a net margin of 15.32% and a return on equity of 23.87%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, analysts forecast that Old Dominion Freight Line will post 7.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.68 annualized dividend and a dividend yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio is presently 9.21%.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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