Mount Yale Investment Advisors LLC Acquires 2,893 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mount Yale Investment Advisors LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 99.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,790 shares of the transportation company’s stock after buying an additional 2,893 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,270,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ODFL. Raymond James & Associates boosted its stake in Old Dominion Freight Line by 14.7% in the 4th quarter. Raymond James & Associates now owns 26,184 shares of the transportation company’s stock worth $10,613,000 after purchasing an additional 3,356 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Old Dominion Freight Line by 18.5% in the 4th quarter. Pacer Advisors Inc. now owns 13,976 shares of the transportation company’s stock worth $5,665,000 after purchasing an additional 2,183 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Old Dominion Freight Line by 149.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 7,929 shares of the transportation company’s stock worth $3,214,000 after purchasing an additional 4,748 shares in the last quarter. Schechter Investment Advisors LLC boosted its stake in Old Dominion Freight Line by 6.6% in the 4th quarter. Schechter Investment Advisors LLC now owns 770 shares of the transportation company’s stock worth $312,000 after purchasing an additional 48 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Old Dominion Freight Line by 26.9% in the 4th quarter. Global Retirement Partners LLC now owns 3,063 shares of the transportation company’s stock worth $1,172,000 after purchasing an additional 649 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $1.43 during midday trading on Monday, hitting $201.50. The stock had a trading volume of 1,266,333 shares, compared to its average volume of 1,625,602. The firm’s fifty day moving average is $180.27 and its two-hundred day moving average is $198.82. The company has a market capitalization of $43.78 billion, a PE ratio of 35.73, a P/E/G ratio of 3.92 and a beta of 1.00. 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 current ratio of 1.46, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company posted $1.33 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.52%. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ODFL. TD Cowen boosted their target price on Old Dominion Freight Line from $206.00 to $214.00 and gave the stock a “hold” rating in a research report on Thursday. Susquehanna decreased their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, June 12th. Wells Fargo & Company began coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price for the company. Evercore ISI reissued an “in-line” rating and issued a $196.00 target price (down previously from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Finally, Barclays reduced their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $202.78.

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.