Argus Investors Counsel Inc. Has $3.47 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Argus Investors Counsel Inc. increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) by 97.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,798 shares of the transportation company’s stock after buying an additional 7,807 shares during the period. Old Dominion Freight Line accounts for approximately 2.1% of Argus Investors Counsel Inc.’s holdings, making the stock its 9th biggest position. Argus Investors Counsel Inc.’s holdings in Old Dominion Freight Line were worth $3,465,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Fortitude Family Office LLC bought a new stake in Old Dominion Freight Line in the 4th quarter valued at $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $27,000. Farmers & Merchants Investments Inc. lifted its holdings in Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in Old Dominion Freight Line during the 4th quarter valued at about $29,000. Finally, Headinvest LLC bought a new position in Old Dominion Freight Line during the 3rd quarter valued at about $30,000. 77.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the sale, the director now directly owns 13,540 shares in the company, valued at approximately $2,993,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Down 0.5 %

NASDAQ:ODFL traded down $0.92 on Thursday, reaching $171.57. 1,995,181 shares of the stock traded hands, compared to its average volume of 1,513,653. The firm has a market capitalization of $37.28 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.22 and a beta of 1.07. The company’s 50 day moving average is $206.25 and its 200-day moving average is $204.24. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $147.90 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 6.02 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ODFL shares. Barclays dropped their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Susquehanna upped their price target on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research report on Thursday, February 8th. The Goldman Sachs Group upped their price target on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Robert W. Baird upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective on the stock in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $209.08.

Read Our Latest Report on Old Dominion Freight Line

Old Dominion Freight Line Company Profile

(Free Report)

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.

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

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