9,951 Shares in Old Dominion Freight Line, Inc. $ODFL Acquired by Johnson Financial Group Inc.

Johnson Financial Group Inc. bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, HoldingsChannel.com reports. The firm bought 9,951 shares of the transportation company’s stock, valued at approximately $2,155,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Old Dominion Freight Line during the second quarter worth $3,416,007,000. Price T Rowe Associates Inc. MD raised its stake in shares of Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after acquiring an additional 1,761,511 shares in the last quarter. State Street Corp boosted its holdings in Old Dominion Freight Line by 0.9% in the fourth quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock valued at $1,214,618,000 after purchasing an additional 70,736 shares during the period. Boston Partners grew its stake in Old Dominion Freight Line by 98.4% during the 4th quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock worth $648,186,000 after purchasing an additional 2,044,434 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in Old Dominion Freight Line by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock worth $577,137,000 after purchasing an additional 365,424 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $205.08 on Thursday. The company has a market capitalization of $42.53 billion, a price-to-earnings ratio of 39.51, a price-to-earnings-growth ratio of 3.61 and a beta of 1.18. The business has a 50-day moving average of $221.86 and a two-hundred day moving average of $210.26. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is 22.35%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ODFL. JPMorgan Chase & Co. increased their price target on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Old Dominion Freight Line from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $226.55.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.