Cherokee Insurance Co Invests $568,000 in Old Dominion Freight Line, Inc. $ODFL

Cherokee Insurance Co acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,500 shares of the transportation company’s stock, valued at approximately $568,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ODFL. Larson Financial Group LLC boosted its position in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 108 shares during the last quarter. Rossby Financial LCC bought a new stake in Old Dominion Freight Line during the second quarter valued at approximately $28,000. Zions Bancorporation National Association UT purchased a new position in Old Dominion Freight Line in the 1st quarter worth approximately $39,000. Chilton Capital Management LLC purchased a new position in Old Dominion Freight Line in the 2nd quarter worth approximately $47,000. Finally, WPG Advisers LLC bought a new position in shares of Old Dominion Freight Line in the 1st quarter worth $51,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ODFL. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $159.00 to $154.00 in a report on Thursday, October 30th. UBS Group lifted their price target on Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $143.00 to $144.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Vertical Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.33.

Old Dominion Freight Line Trading Down 0.5%

NASDAQ ODFL opened at $138.85 on Thursday. The firm has a market cap of $29.03 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $228.72. The stock has a 50-day moving average of $140.87 and a 200-day moving average of $152.77. The company has a current ratio of 1.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm earned $1.43 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast 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 will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is presently 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.