Park Avenue Securities LLC Buys 3,721 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Park Avenue Securities LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 113.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,988 shares of the transportation company’s stock after purchasing an additional 3,721 shares during the period. Park Avenue Securities LLC’s holdings in Old Dominion Freight Line were worth $1,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ODFL. Trust Co. of Vermont bought a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. lifted its position in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the period. Raleigh Capital Management Inc. bought a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its position in Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 68 shares during the period. Finally, Washington Trust Advisors Inc. lifted its position in Old Dominion Freight Line by 138.3% during the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 83 shares during the period. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ODFL. UBS Group upped their target price on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Raymond James upped their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America upped their target price on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, July 25th. Finally, Vertical Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $202.78.

Insider Transactions at Old Dominion Freight Line

In other news, Director Thomas A. Stith III 550 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock traded up $1.91 during trading on Thursday, hitting $195.06. 1,056,585 shares of the company’s stock traded hands, compared to its average volume of 1,630,410. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46. The business has a fifty day simple moving average of $184.49 and a 200 day simple moving average of $199.19. The stock has a market capitalization of $42.38 billion, a price-to-earnings ratio of 34.01, a P/E/G ratio of 3.92 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $1.33 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Old Dominion Freight Line Company 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.