OneAscent Wealth Management LLC Raises Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

OneAscent Wealth Management LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 97.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,245 shares of the transportation company’s stock after buying an additional 1,107 shares during the period. OneAscent Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $492,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Fortitude Family Office LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at $27,000. Trust Co. of Vermont purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in Old Dominion Freight Line in the fourth quarter worth about $29,000. Headinvest LLC purchased a new position in Old Dominion Freight Line in the third quarter valued at about $30,000. Finally, Sound Income Strategies LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $34,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL traded up $2.23 during midday trading on Friday, hitting $176.60. 3,118,740 shares of the company traded hands, compared to its average volume of 1,731,722. The company’s 50-day moving average is $179.13 and its 200 day moving average is $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 firm has a market capitalization of $38.37 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ODFL. BMO Capital Markets initiated coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price target for the company. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Bank of America reduced their price objective on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a research note on Thursday, June 6th. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research note on Monday, April 29th. Finally, Raymond James reduced their price target on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $201.18.

About Old Dominion Freight Line

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.