Oxford Wealth Group LLC Purchases New Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Oxford Wealth Group LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,814 shares of the transportation company’s stock, valued at approximately $1,933,000. Old Dominion Freight Line accounts for approximately 1.8% of Oxford Wealth Group LLC’s portfolio, making the stock its 13th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after purchasing an additional 7,401,526 shares during the last quarter. Capital Research Global Investors boosted its stake in Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after purchasing an additional 2,447,121 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after purchasing an additional 2,888,205 shares during the last quarter. Finally, Capital World Investors boosted its stake in Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 1.8 %

NASDAQ:ODFL traded up $3.53 on Tuesday, reaching $205.03. 1,209,939 shares of the company’s stock were exchanged, compared to its average volume of 1,622,764. The company has a quick ratio of 2.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $44.55 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 3.92 and a beta of 1.00. The business has a fifty day moving average of $181.31 and a 200-day moving average of $198.94. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80.

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

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. 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 0.51%. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Thomas A. Stith III 550 shares of the stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the topic of several recent research reports. Raymond James lifted their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley lowered 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 research note on Monday, July 8th. Bank of America lifted their target price on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, July 25th. Finally, Robert W. Baird boosted their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $202.78.

About Old Dominion Freight Line

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.