Lord Abbett & CO. LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 794,605 shares of the transportation company’s stock after acquiring an additional 16,364 shares during the period. Lord Abbett & CO. LLC owned 0.96% of Old Dominion Freight Line worth $75,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter worth $590,000. Wasatch Advisors Inc. raised its holdings in shares of Old Dominion Freight Line by 5.3% during the 2nd quarter. Wasatch Advisors Inc. now owns 799,843 shares of the transportation company’s stock worth $76,177,000 after acquiring an additional 39,954 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of Old Dominion Freight Line by 0.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 33,124 shares of the transportation company’s stock worth $3,154,000 after acquiring an additional 304 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Old Dominion Freight Line by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,304 shares of the transportation company’s stock worth $9,743,000 after acquiring an additional 1,729 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter worth $233,000. Institutional investors and hedge funds own 73.84% of the company’s stock.

Shares of Old Dominion Freight Line, Inc. (ODFL) traded up 0.06% during mid-day trading on Tuesday, reaching $108.32. 174,287 shares of the company traded hands. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 28.05 and a beta of 1.09. The company’s 50 day moving average is $104.41 and its 200 day moving average is $94.65. Old Dominion Freight Line, Inc. has a 52-week low of $68.82 and a 52-week high of $110.45.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The firm had revenue of $839.90 million for the quarter, compared to analyst estimates of $824.68 million. During the same period last year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post $4.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Friday, September 1st. Old Dominion Freight Line’s payout ratio is 10.39%.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the sale, the insider now directly owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The sale 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.

Several research analysts have recently commented on ODFL shares. BidaskClub lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Stifel Nicolaus reiterated a “hold” rating and set a $91.00 price target on shares of Old Dominion Freight Line in a report on Friday, July 14th. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price target for the stock from $108.00 to $98.00 in a report on Monday, July 31st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $119.00 price target (up previously from $110.00) on shares of Old Dominion Freight Line in a report on Thursday, October 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $103.75.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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