Brevan Howard Capital Management LP Acquires 81,613 Shares of Old Dominion Freight Line, Inc. $ODFL

Brevan Howard Capital Management LP boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2,974.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,357 shares of the transportation company’s stock after acquiring an additional 81,613 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Old Dominion Freight Line were worth $13,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Gravity Companies Inc. bought a new position in shares of Old Dominion Freight Line in the second quarter worth about $26,000. Rossby Financial LCC bought a new stake in shares of Old Dominion Freight Line during the second quarter valued at approximately $28,000. Chilton Capital Management LLC acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $47,000. WPG Advisers LLC bought a new position in Old Dominion Freight Line in the 1st quarter worth approximately $51,000. Finally, Flaharty Asset Management LLC bought a new position in Old Dominion Freight Line in the 1st quarter worth approximately $59,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ODFL shares. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $144.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Susquehanna upped their price target on Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Jefferies Financial Group lowered their price objective on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, October 9th. Stephens dropped their price objective on Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, December 3rd. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $154.48.

Old Dominion Freight Line Stock Up 0.4%

Shares of Old Dominion Freight Line stock opened at $159.49 on Friday. The business has a fifty day simple moving average of $139.81 and a 200 day simple moving average of $149.69. The stock has a market cap of $33.35 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 4.15 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.54%.

About Old Dominion Freight Line

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.