Northwest Investment Counselors LLC Invests $74,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Northwest Investment Counselors LLC purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 338 shares of the transportation company’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ODFL. City Holding Co. increased its holdings in Old Dominion Freight Line by 14.2% during the 1st quarter. City Holding Co. now owns 2,466 shares of the transportation company’s stock worth $541,000 after purchasing an additional 306 shares during the period. Ballentine Partners LLC increased its holdings in Old Dominion Freight Line by 111.7% during the 1st quarter. Ballentine Partners LLC now owns 1,634 shares of the transportation company’s stock worth $358,000 after purchasing an additional 862 shares during the period. Contravisory Investment Management Inc. increased its holdings in Old Dominion Freight Line by 99.3% during the 1st quarter. Contravisory Investment Management Inc. now owns 2,302 shares of the transportation company’s stock worth $505,000 after purchasing an additional 1,147 shares during the period. Salem Investment Counselors Inc. boosted its position in shares of Old Dominion Freight Line by 51.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 200 shares of the transportation company’s stock worth $44,000 after purchasing an additional 68 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Old Dominion Freight Line by 97.6% in the 1st quarter. International Assets Investment Management LLC now owns 3,438 shares of the transportation company’s stock worth $750,000 after purchasing an additional 1,698 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ODFL. Susquehanna reduced 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 note on Wednesday, June 12th. Robert W. Baird upgraded Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective for the company in a research note on Wednesday, May 8th. TD Cowen reduced their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Raymond James reduced their price objective on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $202.71.

Old Dominion Freight Line Trading Up 0.7 %

Shares of Old Dominion Freight Line stock opened at $176.07 on Tuesday. The stock has a market cap of $38.26 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.27 and a beta of 1.02. The stock’s 50 day simple moving average is $182.11 and its 200-day simple moving average is $200.53. Old Dominion Freight Line, Inc. has a 1-year low of $163.30 and a 1-year high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Analysts predict that Old Dominion Freight Line, Inc. will post 5.98 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Old Dominion Freight Line Company 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.