American International Group Inc. increased its holdings in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 0.7% in the second quarter, Holdings Channel reports. The institutional investor owned 137,635 shares of the transportation company’s stock after purchasing an additional 933 shares during the quarter. American International Group Inc.’s holdings in Old Dominion Freight Line were worth $20,502,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FDx Advisors Inc. boosted its holdings in Old Dominion Freight Line by 56.0% during the 1st quarter. FDx Advisors Inc. now owns 2,921 shares of the transportation company’s stock valued at $429,000 after acquiring an additional 1,048 shares during the period. Financial Engines Advisors L.L.C. boosted its holdings in Old Dominion Freight Line by 0.7% during 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 acquiring an additional 531 shares during the period. Wells Fargo & Company MN boosted its holdings in Old Dominion Freight Line by 2.9% during the 1st quarter. Wells Fargo & Company MN now owns 589,499 shares of the transportation company’s stock valued at $86,638,000 after acquiring an additional 16,560 shares during the period. Dupont Capital Management Corp boosted its holdings in Old Dominion Freight Line by 42.2% during the 1st quarter. Dupont Capital Management Corp now owns 24,522 shares of the transportation company’s stock valued at $3,604,000 after acquiring an additional 7,277 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in Old Dominion Freight Line by 66.0% during the 1st quarter. Alps Advisors Inc. now owns 7,669 shares of the transportation company’s stock valued at $1,127,000 after acquiring an additional 3,050 shares during the period. 71.98% of the stock is owned by institutional investors and hedge funds.

Shares of ODFL stock opened at $146.80 on Friday. Old Dominion Freight Line has a twelve month low of $93.29 and a twelve month high of $164.10. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 0.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, July 26th. The transportation company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.17. Old Dominion Freight Line had a return on equity of 20.31% and a net margin of 15.37%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business earned $1.19 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. equities analysts forecast that Old Dominion Freight Line will post 6.85 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, September 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Wednesday, September 5th. Old Dominion Freight Line’s dividend payout ratio is 11.93%.

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

A number of equities analysts recently issued reports on ODFL shares. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a report on Thursday, May 24th. KeyCorp boosted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, July 2nd. ValuEngine cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Finally, Morgan Stanley boosted their price objective on Old Dominion Freight Line from $154.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $146.62.

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 800 shares of the company’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $148.44, for a total value of $118,752.00. Following the completion of the sale, the director now directly owns 5,679 shares in the company, valued at approximately $842,990.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.00% of the stock is currently owned by corporate insiders.

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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