Old Dominion Freight Line (ODFL) Shares Bought by HL Financial Services LLC

HL Financial Services LLC raised its holdings in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 8.0% in the third quarter, Holdings Channel reports. The institutional investor owned 66,221 shares of the transportation company’s stock after acquiring an additional 4,914 shares during the period. HL Financial Services LLC’s holdings in Old Dominion Freight Line were worth $10,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ODFL. Principal Financial Group Inc. increased its holdings in Old Dominion Freight Line by 2.6% during the first quarter. Principal Financial Group Inc. now owns 300,881 shares of the transportation company’s stock valued at $44,220,000 after buying an additional 7,576 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Old Dominion Freight Line by 422.6% during the first quarter. Allianz Asset Management GmbH now owns 8,843 shares of the transportation company’s stock valued at $1,300,000 after buying an additional 7,151 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in Old Dominion Freight Line during the first quarter valued at approximately $324,000. IFM Investors Pty Ltd purchased a new stake in Old Dominion Freight Line during the second quarter valued at approximately $287,000. Finally, Empowered Funds LLC purchased a new stake in Old Dominion Freight Line during the second quarter valued at approximately $1,518,000. 72.93% of the stock is owned by institutional investors and hedge funds.

ODFL opened at $133.59 on Monday. The firm has a market cap of $10.95 billion, a P/E ratio of 30.64, a P/E/G ratio of 0.75 and a beta of 1.41. Old Dominion Freight Line has a fifty-two week low of $116.61 and a fifty-two week high of $170.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.77.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, October 25th. The transportation company reported $2.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.15. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Old Dominion Freight Line had a net margin of 16.47% and a return on equity of 22.13%. As a group, research analysts predict that Old Dominion Freight Line will post 7.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.39%. Old Dominion Freight Line’s payout ratio is 11.93%.

ODFL has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Old Dominion Freight Line from $158.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, October 9th. BidaskClub cut shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 18th. ValuEngine raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Argus reduced their price objective on shares of Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Finally, Bank of America raised shares of Old Dominion Freight Line from an “underperform” rating to a “buy” rating and set a $139.00 price objective for the company in a research note on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $146.25.

Old Dominion Freight Line 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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