Epoch Investment Partners Inc. Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Epoch Investment Partners Inc. boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 342,650 shares of the transportation company’s stock after purchasing an additional 2,496 shares during the quarter. Epoch Investment Partners Inc. owned about 0.16% of Old Dominion Freight Line worth $60,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in ODFL. 1832 Asset Management L.P. lifted its position in shares of Old Dominion Freight Line by 24.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 72,577 shares of the transportation company’s stock worth $12,817,000 after purchasing an additional 14,445 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Old Dominion Freight Line by 5.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 510,244 shares of the transportation company’s stock worth $90,109,000 after buying an additional 25,584 shares during the period. Summit Trail Advisors LLC boosted its position in Old Dominion Freight Line by 26.7% during the 2nd quarter. Summit Trail Advisors LLC now owns 2,043 shares of the transportation company’s stock valued at $361,000 after acquiring an additional 431 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Old Dominion Freight Line by 7.5% in the 2nd quarter. Sei Investments Co. now owns 46,415 shares of the transportation company’s stock valued at $8,198,000 after acquiring an additional 3,227 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Old Dominion Freight Line by 4.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 40,811 shares of the transportation company’s stock worth $7,210,000 after acquiring an additional 1,903 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on ODFL shares. Raymond James lifted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Susquehanna raised their target price on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Wednesday, September 18th. Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. Barclays decreased their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. Finally, Robert W. Baird increased their price objective 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 equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $201.83.

Old Dominion Freight Line Stock Down 5.2 %

Old Dominion Freight Line stock opened at $193.97 on Monday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The firm has a market cap of $42.15 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The business’s 50-day moving average price is $196.27 and its 200 day moving average price is $195.51. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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 was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Old Dominion Freight Line’s payout ratio is 18.31%.

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.