First Horizon Advisors Inc. Raises Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

First Horizon Advisors Inc. raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 41.5% in the 1st quarter, HoldingsChannel reports. The firm owned 828 shares of the transportation company’s stock after purchasing an additional 243 shares during the period. First Horizon Advisors Inc.’s holdings in Old Dominion Freight Line were worth $198,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. lifted its position in Old Dominion Freight Line by 8.9% during the first quarter. BlackRock Inc. now owns 8,808,272 shares of the transportation company’s stock valued at $2,117,595,000 after purchasing an additional 723,337 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Old Dominion Freight Line by 50.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,606,010 shares of the transportation company’s stock worth $1,289,361,000 after acquiring an additional 2,214,190 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Old Dominion Freight Line by 4.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,778,675 shares of the transportation company’s stock worth $347,161,000 after acquiring an additional 68,043 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Old Dominion Freight Line by 15.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,177,059 shares of the transportation company’s stock worth $229,737,000 after acquiring an additional 159,998 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $179,498,000. Institutional investors and hedge funds own 70.04% of the company’s stock.

ODFL has been the subject of a number of recent research reports. Evercore ISI restated a “buy” rating on shares of Old Dominion Freight Line in a report on Sunday, April 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Old Dominion Freight Line from $224.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday, April 29th. Argus lifted their target price on shares of Old Dominion Freight Line from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, April 23rd. Vertical Research started coverage on shares of Old Dominion Freight Line in a research note on Friday, March 26th. They issued a “hold” rating and a $220.00 target price on the stock. Finally, KeyCorp lifted their target price on shares of Old Dominion Freight Line from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, May 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $234.88.

NASDAQ:ODFL opened at $248.41 on Friday. The stock has a 50-day simple moving average of $257.54. The stock has a market cap of $28.81 billion, a P/E ratio of 39.62, a PEG ratio of 1.47 and a beta of 1.02. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.03. Old Dominion Freight Line, Inc. has a 1-year low of $153.57 and a 1-year high of $276.09.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 22nd. The transportation company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.12. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Old Dominion Freight Line had a net margin of 17.79% and a return on equity of 23.32%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 EPS. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 7.9 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 16th. Investors of record on Wednesday, June 2nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Tuesday, June 1st. Old Dominion Freight Line’s payout ratio is 14.08%.

About Old Dominion Freight Line

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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