RMR Wealth Builders Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

RMR Wealth Builders raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.9% during the second quarter, Holdings Channel.com reports. The firm owned 1,855 shares of the transportation company’s stock after purchasing an additional 281 shares during the period. RMR Wealth Builders’ holdings in Old Dominion Freight Line were worth $328,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ODFL. Sequoia Financial Advisors LLC lifted its position in Old Dominion Freight Line by 8.6% in the second quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock valued at $876,000 after buying an additional 395 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its position in shares of Old Dominion Freight Line by 98.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after purchasing an additional 50,019 shares during the period. Forsta AP Fonden boosted its position in shares of Old Dominion Freight Line by 65.0% during the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after purchasing an additional 15,600 shares during the period. Sei Investments Co. increased its holdings in Old Dominion Freight Line by 98.6% in the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after purchasing an additional 21,438 shares during the last quarter. Finally, Diversified Trust Co raised its position in Old Dominion Freight Line by 162.9% in the first quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock valued at $1,612,000 after purchasing an additional 4,554 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. BMO Capital Markets upped their target price on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 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 report on Monday, April 29th. Raymond James boosted their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $200.88.

Old Dominion Freight Line Stock Down 1.1 %

Old Dominion Freight Line stock traded down $2.21 during mid-day trading on Thursday, hitting $200.69. The company had a trading volume of 369,511 shares, compared to its average volume of 1,606,914. The stock has a market cap of $43.61 billion, a price-to-earnings ratio of 35.48, a PEG ratio of 3.75 and a beta of 1.00. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The business has a fifty day moving average of $188.80 and a 200 day moving average of $199.07.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $1.33 EPS. The company’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.7 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

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.