Flossbach Von Storch SE Acquires Shares of 3,159 Old Dominion Freight Line, Inc. $ODFL

Flossbach Von Storch SE acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,159 shares of the transportation company’s stock, valued at approximately $684,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Old Dominion Freight Line in the second quarter valued at about $3,416,007,000. Norges Bank acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $444,983,000. Bank of New York Mellon Corp acquired a new position in Old Dominion Freight Line during the 2nd quarter valued at about $543,289,000. Boston Partners acquired a new position in shares of Old Dominion Freight Line during the third quarter worth approximately $292,599,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock worth $2,230,318,000 after purchasing an additional 1,761,511 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ODFL shares. UBS Group reiterated a “neutral” rating and set a $228.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $241.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research note on Monday, July 13th. TD Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Finally, Zacks Research raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $205.08 on Thursday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The stock has a market capitalization of $42.53 billion, a PE ratio of 39.51, a P/E/G ratio of 3.61 and a beta of 1.18. The stock has a 50-day simple moving average of $221.86 and a 200 day simple moving average of $210.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company posted $1.27 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.35%.

Old Dominion Freight Line 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.