Jupiter Asset Management Ltd. Grows Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Jupiter Asset Management Ltd. raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 99.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,534 shares of the transportation company’s stock after acquiring an additional 64,608 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.06% of Old Dominion Freight Line worth $28,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $27,000. Trust Co. of Vermont bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. raised its position in shares of Old Dominion Freight Line by 100.0% in 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 stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Finally, Washington Trust Advisors Inc. raised its position in shares of Old Dominion Freight Line by 138.3% in 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. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of Old Dominion Freight Line in a research report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target on the stock. Bank of America lowered their price target on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a research report on Thursday, June 6th. Morgan Stanley decreased their target price on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $196.00 target price (down previously from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $200.55.

Old Dominion Freight Line Trading Up 0.0 %

Shares of Old Dominion Freight Line stock traded up $0.01 during trading on Friday, reaching $195.47. The company’s stock had a trading volume of 1,228,436 shares, compared to its average volume of 1,635,021. 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 market cap of $42.47 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.57 and a beta of 1.00. The firm’s 50-day moving average is $178.69 and its two-hundred day moving average is $198.64. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.9 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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

Old Dominion Freight Line 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.