Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 97.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,222 shares of the transportation company’s stock after buying an additional 12,443 shares during the period. Ritholtz Wealth Management’s holdings in Old Dominion Freight Line were worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Old Dominion Freight Line by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company’s stock worth $3,693,663,000 after purchasing an additional 91,842 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Old Dominion Freight Line by 20.3% during the second quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock worth $474,292,000 after buying an additional 492,563 shares during the last quarter. Norges Bank purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at $371,961,000. Lazard Asset Management LLC raised its holdings in shares of Old Dominion Freight Line by 11.6% during the 2nd quarter. Lazard Asset Management LLC now owns 1,933,480 shares of the transportation company’s stock worth $313,802,000 after acquiring an additional 200,681 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Old Dominion Freight Line by 9.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,549,766 shares of the transportation company’s stock valued at $251,046,000 after acquiring an additional 137,068 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 1.4%

ODFL opened at $175.65 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $209.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $152.13 and a 200-day simple moving average of $150.12. The firm has a market cap of $36.73 billion, a P/E ratio of 35.34, a P/E/G ratio of 8.86 and a beta of 1.27.

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

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 22.54%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Rothschild & Co Redburn assumed coverage on shares of Old Dominion Freight Line in a research report on Wednesday, November 26th. They set a “sell” rating and a $114.00 price objective for the company. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, December 3rd. Stephens reiterated an “overweight” rating and issued a $190.00 price objective on shares of Old Dominion Freight Line in a report on Tuesday, January 6th. Bank of America raised their target price on Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. Finally, Wall Street Zen lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Saturday. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $162.71.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.