Chilton Investment Co. LLC grew its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 5.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 229,577 shares of the transportation company’s stock after purchasing an additional 12,249 shares during the quarter. Chilton Investment Co. LLC’s holdings in Old Dominion Freight Line were worth $34,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Counselors Inc. raised its holdings in Old Dominion Freight Line by 4.1% during the second quarter. Financial Counselors Inc. now owns 9,293 shares of the transportation company’s stock worth $1,384,000 after purchasing an additional 363 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Old Dominion Freight Line by 0.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 70,677 shares of the transportation company’s stock worth $10,528,000 after acquiring an additional 370 shares during the last quarter. Alps Advisors Inc. grew its position in shares of Old Dominion Freight Line by 5.0% during the second quarter. Alps Advisors Inc. now owns 8,050 shares of the transportation company’s stock worth $1,199,000 after acquiring an additional 381 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Old Dominion Freight Line by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 18,400 shares of the transportation company’s stock worth $2,741,000 after acquiring an additional 400 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Old Dominion Freight Line by 19.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,625 shares of the transportation company’s stock worth $386,000 after acquiring an additional 423 shares during the last quarter. 72.32% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on ODFL. BidaskClub upgraded shares of Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. Argus began coverage on shares of Old Dominion Freight Line in a research report on Wednesday, May 23rd. They issued a “buy” rating and a $175.00 price objective on the stock. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a research report on Thursday, May 24th. KeyCorp lifted their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday, July 2nd. Finally, Cowen lifted their price objective on shares of Old Dominion Freight Line from $145.00 to $156.00 and gave the company a “market perform” rating in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $147.38.

Shares of NASDAQ ODFL opened at $153.17 on Friday. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 0.93 and a beta of 1.18. Old Dominion Freight Line has a one year low of $96.33 and a one year high of $164.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, July 26th. The transportation company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.82 by $0.17. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Old Dominion Freight Line had a net margin of 15.37% and a return on equity of 20.31%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. analysts forecast that Old Dominion Freight Line will post 6.85 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, September 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, September 5th. This represents a $0.52 annualized dividend and a dividend yield of 0.34%. Old Dominion Freight Line’s payout ratio is currently 11.93%.

Old Dominion Freight Line announced that its Board of Directors has approved a stock repurchase program on Thursday, May 17th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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