Newfound Research LLC Takes $87,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)


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Newfound Research LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 361 shares of the transportation company’s stock, valued at approximately $87,000. Old Dominion Freight Line makes up approximately 0.2% of Newfound Research LLC’s portfolio, making the stock its 20th largest position.

A number of other large investors have also modified their holdings of ODFL. GPS Wealth Strategies Group LLC bought a new stake in Old Dominion Freight Line in the first quarter worth $28,000. Lenox Wealth Advisors LLC boosted its holdings in Old Dominion Freight Line by 96.2% in the fourth quarter. Lenox Wealth Advisors LLC now owns 153 shares of the transportation company’s stock worth $30,000 after purchasing an additional 75 shares in the last quarter. NEXT Financial Group Inc boosted its holdings in Old Dominion Freight Line by 216.7% in the fourth quarter. NEXT Financial Group Inc now owns 152 shares of the transportation company’s stock worth $30,000 after purchasing an additional 104 shares in the last quarter. GoalVest Advisory LLC acquired a new position in Old Dominion Freight Line during the 4th quarter worth $32,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter valued at about $35,000. Hedge funds and other institutional investors own 70.60% of the company’s stock.

Shares of ODFL traded up $1.22 during mid-day trading on Tuesday, hitting $262.89. 11,632 shares of the company traded hands, compared to its average volume of 691,390. Old Dominion Freight Line, Inc. has a one year low of $144.41 and a one year high of $262.91. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $244.33 and a 200 day moving average of $214.57. The stock has a market capitalization of $30.49 billion, a price-to-earnings ratio of 49.65, a PEG ratio of 1.89 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, April 22nd. The transportation company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. Old Dominion Freight Line had a net margin of 15.87% and a return on equity of 20.47%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Wednesday, March 3rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 2nd. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 0.30%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 15.66%.

A number of research analysts have recently commented on the stock. Wolfe Research raised shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and set a $221.00 price objective for the company in a research report on Thursday, January 7th. Evercore ISI reaffirmed a “buy” rating on shares of Old Dominion Freight Line in a research report on Sunday, April 25th. Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Friday, February 12th. Credit Suisse Group increased their price target on shares of Old Dominion Freight Line from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 9th. Finally, KeyCorp increased their price target on shares of Old Dominion Freight Line from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Old Dominion Freight Line currently has an average rating of “Buy” and an average target price of $234.29.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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