Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 100.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,532 shares of the transportation company’s stock after purchasing an additional 20,766 shares during the period. AMF Tjanstepension AB’s holdings in Old Dominion Freight Line were worth $9,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ODFL. Price T Rowe Associates Inc. MD lifted its stake in shares of Old Dominion Freight Line by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after acquiring an additional 81,122 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Old Dominion Freight Line by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after purchasing an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Old Dominion Freight Line by 0.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock worth $851,971,000 after purchasing an additional 12,016 shares in the last quarter. Norges Bank bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $495,387,000. Finally, Morgan Stanley raised its holdings in shares of Old Dominion Freight Line by 7.7% in the 3rd quarter. Morgan Stanley now owns 961,518 shares of the transportation company’s stock worth $393,397,000 after purchasing an additional 68,960 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 1.3 %

Shares of Old Dominion Freight Line stock opened at $176.60 on Friday. The stock has a market capitalization of $38.37 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 2.27 and a beta of 1.02. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $179.13 and a 200 day simple moving average of $200.02. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.26 per share. 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 currently 18.31%.

Analyst Ratings Changes

A number of research firms recently commented on ODFL. Barclays dropped their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 12th. Evercore ISI restated an “in-line” rating and set a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday. Wells Fargo & Company initiated coverage on shares of Old Dominion Freight Line in a report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target on the stock. Vertical Research upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a report on Monday, April 29th. Finally, TD Cowen cut their price target on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $201.18.

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.