Compass Financial Management LLC Invests $2.16 Million in Old Dominion Freight Line, Inc. $ODFL

Compass Financial Management LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, HoldingsChannel reports. The fund bought 9,961 shares of the transportation company’s stock, valued at approximately $2,158,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Reflection Asset Management purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $28,000. Evolution Wealth Management Inc. purchased a new position in shares of Old Dominion Freight Line in the first quarter valued at about $29,000. Finally, DT Investment Partners LLC raised its stake in shares of Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Up 1.0%

Shares of NASDAQ ODFL opened at $206.47 on Friday. The firm has a fifty day simple moving average of $220.21 and a two-hundred day simple moving average of $210.45. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The firm has a market capitalization of $42.81 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 3.59 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.35%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $244.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Raymond James Financial restated an “outperform” rating and set a $241.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. Robert W. Baird set a $229.00 price target on Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Truist Financial increased their price objective on Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.