Cwm LLC Has $2.46 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Cwm LLC raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 52.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 15,165 shares of the transportation company’s stock after purchasing an additional 5,186 shares during the period. Cwm LLC’s holdings in Old Dominion Freight Line were worth $2,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its position in Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after acquiring an additional 1,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Old Dominion Freight Line by 9.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company’s stock valued at $2,911,000 after buying an additional 1,529 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Old Dominion Freight Line by 5.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock valued at $1,507,000 after purchasing an additional 443 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Old Dominion Freight Line by 29.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock valued at $395,000 after purchasing an additional 537 shares during the period. Finally, Wilkinson Global Asset Management LLC lifted its stake in shares of Old Dominion Freight Line by 6.0% in the 1st quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock valued at $17,839,000 after purchasing an additional 6,133 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ODFL shares. Jefferies Financial Group cut their price target on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, October 9th. Susquehanna increased their price target on Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. TD Cowen cut their price target on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. Stephens cut their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Finally, Morgan Stanley dropped their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $163.86.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $138.04 on Friday. The company has a market capitalization of $29.01 billion, a PE ratio of 26.96, a PEG ratio of 3.26 and a beta of 1.19. Old Dominion Freight Line, Inc. has a 12 month low of $133.69 and a 12 month high of $233.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $145.42 and its 200 day simple moving average is $154.64.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $1.48 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

Old Dominion Freight Line 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.