Old Dominion Freight Line (ODFL) Holdings Raised by Amalgamated Bank

Amalgamated Bank raised its position in Old Dominion Freight Line (NASDAQ:ODFL) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,223 shares of the transportation company’s stock after purchasing an additional 472 shares during the period. Amalgamated Bank’s holdings in Old Dominion Freight Line were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Old Dominion Freight Line by 19.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,625 shares of the transportation company’s stock valued at $386,000 after purchasing an additional 423 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Old Dominion Freight Line by 17.5% in the 1st quarter. CIBC Asset Management Inc now owns 3,165 shares of the transportation company’s stock valued at $465,000 after buying an additional 472 shares during the last quarter. Financial Engines Advisors L.L.C. grew its position in shares of Old Dominion Freight Line by 0.7% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 74,497 shares of the transportation company’s stock valued at $10,949,000 after buying an additional 531 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Old Dominion Freight Line by 2.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 21,240 shares of the transportation company’s stock valued at $3,122,000 after buying an additional 560 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Old Dominion Freight Line by 16.2% in the 1st quarter. Toronto Dominion Bank now owns 4,230 shares of the transportation company’s stock valued at $621,000 after buying an additional 589 shares during the last quarter. 71.71% of the stock is currently owned by institutional investors.

In related news, Director Leo H. Suggs sold 800 shares of the stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $148.44, for a total transaction of $118,752.00. Following the completion of the sale, the director now owns 5,679 shares in the company, valued at approximately $842,990.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.00% of the stock is owned by corporate insiders.

ODFL has been the topic of a number of recent analyst reports. Argus initiated coverage on shares of Old Dominion Freight Line in a research report on Wednesday, May 23rd. They issued a “buy” rating and a $175.00 target price on the stock. BidaskClub raised shares of Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. Zacks Investment Research downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Robert W. Baird reaffirmed a “hold” rating and issued a $145.00 target price on shares of Old Dominion Freight Line in a research report on Tuesday, April 10th. Finally, ValuEngine raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Tuesday, April 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $142.00.

Shares of NASDAQ:ODFL opened at $153.28 on Tuesday. The firm has a market cap of $12.97 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 1.04 and a beta of 1.21. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 1-year low of $92.14 and a 1-year high of $164.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, April 26th. The transportation company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.03. The firm had revenue of $925.02 million during the quarter, compared to analysts’ expectations of $925.83 million. Old Dominion Freight Line had a net margin of 14.38% and a return on equity of 18.47%. Old Dominion Freight Line’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 EPS. research analysts expect that Old Dominion Freight Line will post 6.44 earnings per share for the current fiscal year.

Old Dominion Freight Line announced that its board has approved a stock buyback program on Thursday, May 17th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the transportation company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 20th. Investors of record on Wednesday, June 6th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Tuesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is currently 11.93%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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