NBC Securities Inc. Raises Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

NBC Securities Inc. raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1,431.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,795 shares of the transportation company’s stock after purchasing an additional 12,894 shares during the period. NBC Securities Inc.’s holdings in Old Dominion Freight Line were worth $3,125,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $27,000. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line during the fourth quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at about $29,000. Headinvest LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $30,000. Finally, Sound Income Strategies LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.4 %

Shares of ODFL stock traded down $0.62 during mid-day trading on Wednesday, hitting $173.30. 1,516,547 shares of the company’s stock were exchanged, compared to its average volume of 1,990,408. The stock has a market cap of $37.66 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 2.25 and a beta of 1.02. The stock has a 50-day simple moving average of $185.65 and a two-hundred day simple moving average of $201.05. Old Dominion Freight Line, Inc. has a fifty-two week low of $158.60 and a fifty-two week high of $227.80. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Equities analysts expect that Old Dominion Freight Line, Inc. will post 6.01 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, June 19th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.60%. The ex-dividend date is Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Robert W. Baird raised shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective for the company in a report on Wednesday, May 8th. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Raymond James raised their target price on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Barclays lowered their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $204.97.

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.