Wasatch Advisors LP Buys 3,569 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wasatch Advisors LP grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 121.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,506 shares of the transportation company’s stock after acquiring an additional 3,569 shares during the period. Wasatch Advisors LP’s holdings in Old Dominion Freight Line were worth $1,427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Old Dominion Freight Line in the 4th quarter worth approximately $495,387,000. International Assets Investment Management LLC boosted its holdings in Old Dominion Freight Line by 39,016.7% in the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after buying an additional 703,471 shares during the period. JPMorgan Chase & Co. boosted its holdings in Old Dominion Freight Line by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after buying an additional 251,289 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Old Dominion Freight Line by 118.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 389,891 shares of the transportation company’s stock worth $85,507,000 after buying an additional 211,141 shares during the period. Finally, Congress Asset Management Co. MA boosted its holdings in Old Dominion Freight Line by 98.2% in the 1st quarter. Congress Asset Management Co. MA now owns 424,665 shares of the transportation company’s stock worth $93,133,000 after buying an additional 210,354 shares during the period. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ODFL. UBS Group raised their price objective on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research note on Monday, April 29th. TD Cowen lowered their target price on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. BMO Capital Markets began coverage on shares of Old Dominion Freight Line in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 target price on the stock. Finally, Baird R W upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $201.18.

Old Dominion Freight Line Trading Up 1.9 %

ODFL traded up $3.47 during trading on Tuesday, hitting $182.17. 2,514,540 shares of the stock traded hands, compared to its average volume of 1,601,671. The firm has a market capitalization of $39.58 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The firm has a 50-day moving average of $177.73 and a 200 day moving average of $199.95.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Old Dominion Freight Line Company 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.