Gilman Hill Asset Management LLC Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gilman Hill Asset Management LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 100.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,780 shares of the transportation company’s stock after acquiring an additional 890 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Old Dominion Freight Line were worth $390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $27,000. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $29,000. Headinvest LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $34,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL opened at $174.85 on Wednesday. The company has a market capitalization of $37.99 billion, a P/E ratio of 30.78, a PEG ratio of 2.29 and a beta of 1.02. The company has a 50-day moving average of $181.20 and a 200-day moving average of $200.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. Old Dominion Freight Line, Inc. has a 1-year low of $163.30 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS 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 company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ODFL shares. 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. Bank of America decreased their target price on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a report on Thursday, June 6th. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Raymond James decreased their price objective on shares of 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, Wells Fargo & Company initiated coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $201.18.

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.