Hunter Associates Investment Management LLC Boosts Holdings in Old Dominion Freight Line, Inc. $ODFL

Hunter Associates Investment Management LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,423 shares of the transportation company’s stock after purchasing an additional 1,249 shares during the period. Hunter Associates Investment Management LLC’s holdings in Old Dominion Freight Line were worth $2,014,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in Old Dominion Freight Line by 29.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock valued at $395,000 after acquiring an additional 537 shares in the last quarter. Wilkinson Global Asset Management LLC increased its holdings in Old Dominion Freight Line by 6.0% during 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 acquiring an additional 6,133 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Old Dominion Freight Line during the 1st quarter valued at about $454,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Old Dominion Freight Line by 9.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,395 shares of the transportation company’s stock valued at $58,304,000 after acquiring an additional 30,328 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Old Dominion Freight Line by 51.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,250 shares of the transportation company’s stock worth $869,000 after buying an additional 1,776 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ODFL shares. UBS Group lifted their price target on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Susquehanna lifted their price target on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Jefferies Financial Group lowered their price target on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, October 9th. Barclays lowered their price target on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Finally, Raymond James Financial reiterated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of Old Dominion Freight Line in a report on Thursday. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $159.33.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $140.42 on Monday. Old Dominion Freight Line, Inc. has a 1 year low of $133.69 and a 1 year high of $233.26. The firm has a 50 day moving average price of $142.87 and a 200 day moving average price of $153.53. The company has a market cap of $29.51 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. Old Dominion Freight Line’s revenue was down 4.3% compared to the same quarter last year. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is 22.54%.

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.