Meeder Asset Management Inc. lifted its position in Old Dominion Freight Line (NASDAQ:ODFL) by 365.1% in the 1st quarter, HoldingsChannel reports. The fund owned 16,902 shares of the transportation company’s stock after acquiring an additional 13,268 shares during the period. Meeder Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of ODFL. Capital Investment Advisory Services LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $29,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Old Dominion Freight Line by 9,888.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,182,730 shares of the transportation company’s stock worth $34,000 after purchasing an additional 4,140,856 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $36,000. JOYN Advisors Inc. lifted its holdings in shares of Old Dominion Freight Line by 58.2% in the 4th quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock worth $37,000 after purchasing an additional 110 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter worth approximately $42,000. Institutional investors own 72.66% of the company’s stock.
Shares of Old Dominion Freight Line stock opened at $154.83 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.44. Old Dominion Freight Line has a 1-year low of $115.00 and a 1-year high of $170.22.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, February 7th. The transportation company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.21. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. Old Dominion Freight Line had a return on equity of 23.90% and a net margin of 14.98%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.39 EPS. On average, research analysts forecast that Old Dominion Freight Line will post 7.94 EPS for the current fiscal year.
The firm 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. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.68 annualized dividend and a yield of 0.44%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.13. Old Dominion Freight Line’s payout ratio is presently 9.21%.
Several analysts recently issued reports on ODFL shares. Seaport Global Securities reissued a “buy” rating on shares of Old Dominion Freight Line in a report on Friday, April 5th. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a report on Monday, March 11th. Credit Suisse Group reissued a “buy” rating and issued a $147.00 price target on shares of Old Dominion Freight Line in a report on Tuesday, January 15th. BidaskClub raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, Cowen lifted their target price on Old Dominion Freight Line from $133.00 to $142.00 and gave the company a “market perform” rating in a research note on Thursday, February 7th. Nine research 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 has an average rating of “Hold” and an average target price of $149.20.
In other Old Dominion Freight Line news, SVP David J. Bates sold 1,951 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $151.84, for a total transaction of $296,239.84. Following the sale, the senior vice president now owns 6,027 shares of the company’s stock, valued at approximately $915,139.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.00% of the stock is owned by insiders.
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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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