Laurion Capital Management LP Invests $2.16 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Laurion Capital Management LP bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,497 shares of the transportation company’s stock, valued at approximately $2,157,000.

Several other hedge funds have also recently added to or reduced their stakes in ODFL. WCM Investment Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter worth $276,038,000. BlackRock Inc. lifted its stake in shares of Old Dominion Freight Line by 9.8% in the 2nd quarter. BlackRock Inc. now owns 9,673,939 shares of the transportation company’s stock worth $2,455,248,000 after acquiring an additional 865,667 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Old Dominion Freight Line by 31.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,389,432 shares of the transportation company’s stock worth $606,437,000 after acquiring an additional 565,063 shares during the period. Royal Bank of Canada lifted its stake in shares of Old Dominion Freight Line by 115.7% in the 1st quarter. Royal Bank of Canada now owns 714,182 shares of the transportation company’s stock worth $171,695,000 after acquiring an additional 383,128 shares during the period. Finally, Select Equity Group L.P. acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter worth $41,920,000. Institutional investors own 70.11% of the company’s stock.

Shares of ODFL traded up $4.92 during mid-day trading on Thursday, reaching $289.69. 3,848 shares of the stock traded hands, compared to its average volume of 634,849. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $288.38 and a 200 day simple moving average of $267.67. The firm has a market cap of $33.55 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 1.52 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12-month low of $185.20 and a 12-month high of $304.22.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 28th. The transportation company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.14. Old Dominion Freight Line had a net margin of 18.80% and a return on equity of 26.30%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.24 billion. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 8.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.28%. The ex-dividend date was Tuesday, August 31st. Old Dominion Freight Line’s payout ratio is currently 14.08%.

A number of equities analysts have recently issued reports on ODFL shares. Robert W. Baird reiterated a “hold” rating and issued a $264.00 price target on shares of Old Dominion Freight Line in a report on Sunday, August 1st. Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, August 13th. Citigroup increased their price target on shares of Old Dominion Freight Line from $280.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, October 7th. Raymond James increased their price target on shares of Old Dominion Freight Line from $280.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, September 29th. Finally, Zacks Investment Research downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $268.00 price target for the company. in a report on Wednesday, June 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $262.11.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm involves in the ground and air expedited transportation and consumer household pickup and delivery. Its services include container drayage, truckload brokerage, supply chain consulting and warehousing. The company was founded by Earl Congdon Sr.

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

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