Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Hancock Whitney Corp

Hancock Whitney Corp boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 126.8% during the first quarter, Holdings Channel.com reports. The fund owned 2,098 shares of the transportation company’s stock after purchasing an additional 1,173 shares during the quarter. Hancock Whitney Corp’s holdings in Old Dominion Freight Line were worth $460,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $27,000. Farmers & Merchants Investments Inc. raised its position in 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. purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $29,000. Fortitude Family Office LLC raised its position in Old Dominion Freight Line by 103.0% in the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 68 shares during the period. Finally, Washington Trust Advisors Inc. raised its position in 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. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other news, Director Thomas A. Stith III 550 shares of the company’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 9.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group lifted their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Robert W. Baird lifted their target price on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 target price on the stock. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley dropped their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $202.78.

Old Dominion Freight Line Stock Performance

ODFL stock traded down $7.14 during midday trading on Thursday, reaching $203.04. The company had a trading volume of 1,289,850 shares, compared to its average volume of 1,620,642. 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 stock has a 50 day moving average price of $182.07 and a 200 day moving average price of $199.02. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The firm has a market capitalization of $44.12 billion, a PE ratio of 35.79, a P/E/G ratio of 3.96 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 earnings per share. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.73 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 given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio is presently 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.