60,783 Shares in Old Dominion Freight Line (ODFL) Purchased by Jag Capital Management LLC

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Jag Capital Management LLC bought a new position in shares of Old Dominion Freight Line (NASDAQ:ODFL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 60,783 shares of the transportation company’s stock, valued at approximately $8,776,000. Jag Capital Management LLC owned 0.07% of Old Dominion Freight Line as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ODFL. Bank of New York Mellon Corp raised its holdings in shares of Old Dominion Freight Line by 9.7% during the third quarter. Bank of New York Mellon Corp now owns 807,134 shares of the transportation company’s stock worth $130,159,000 after purchasing an additional 71,408 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth $18,130,000. Deutsche Bank AG raised its holdings in shares of Old Dominion Freight Line by 2.7% during the third quarter. Deutsche Bank AG now owns 171,395 shares of the transportation company’s stock worth $27,635,000 after purchasing an additional 4,426 shares during the period. Verition Fund Management LLC raised its holdings in shares of Old Dominion Freight Line by 70.1% during the third quarter. Verition Fund Management LLC now owns 6,824 shares of the transportation company’s stock worth $1,100,000 after purchasing an additional 2,812 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Old Dominion Freight Line by 35.0% during the third quarter. Advisors Asset Management Inc. now owns 24,008 shares of the transportation company’s stock worth $3,872,000 after purchasing an additional 6,225 shares during the period. 72.66% of the stock is currently owned by institutional investors.

ODFL has been the topic of a number of research reports. KeyCorp increased their target price on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 8th. Credit Suisse Group reaffirmed a “buy” rating and issued a $147.00 price objective on shares of Old Dominion Freight Line in a report on Tuesday, January 15th. Bank of America cut shares of Old Dominion Freight Line from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $154.00 to $158.00 in a report on Tuesday, February 26th. Cowen increased their price objective on shares of Old Dominion Freight Line from $133.00 to $142.00 and gave the stock a “market perform” rating in a report on Thursday, February 7th. Finally, BidaskClub raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $149.20.

Shares of ODFL stock traded down $1.27 during trading hours on Monday, reaching $152.47. The stock had a trading volume of 447,822 shares, compared to its average volume of 489,439. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a twelve month low of $115.00 and a twelve month high of $170.22. The stock has a market cap of $12.56 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.44.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, February 7th. The transportation company reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.21. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 23.90%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.39 EPS. Equities analysts forecast that Old Dominion Freight Line will post 7.94 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.17 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.68 annualized dividend and a yield of 0.45%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 9.21%.

In other Old Dominion Freight Line news, SVP David J. Bates sold 1,951 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $151.84, for a total transaction of $296,239.84. Following the transaction, the senior vice president now owns 6,027 shares of the company’s stock, valued at approximately $915,139.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.00% of the stock is currently owned by company insiders.

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Old Dominion Freight Line Profile

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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