Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Lifted by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 123.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,714 shares of the transportation company’s stock after purchasing an additional 6,477 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Old Dominion Freight Line were worth $2,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Old Dominion Freight Line by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after purchasing an additional 81,122 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Old Dominion Freight Line by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Old Dominion Freight Line by 0.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock worth $851,971,000 after acquiring an additional 12,016 shares in the last quarter. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $495,387,000. Finally, Morgan Stanley boosted its stake in shares of Old Dominion Freight Line by 7.7% during the 3rd quarter. Morgan Stanley now owns 961,518 shares of the transportation company’s stock worth $393,397,000 after acquiring an additional 68,960 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded up $2.23 during trading hours on Friday, hitting $176.60. The stock had a trading volume of 3,118,740 shares, compared to its average volume of 1,592,201. The company has a 50-day moving average of $179.13 and a two-hundred day moving average of $200.02. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a market cap of $38.37 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were issued a $0.26 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ODFL. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a research note on Wednesday, May 8th. Raymond James decreased their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Monday. Susquehanna cut their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, June 12th. Finally, UBS Group boosted their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $201.18.

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.