BT Investment Management Ltd purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,270 shares of the transportation company’s stock, valued at approximately $788,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Amalgamated Bank raised its position in Old Dominion Freight Line by 14.4% during the second quarter. Amalgamated Bank now owns 12,380 shares of the transportation company’s stock worth $1,179,000 after acquiring an additional 1,560 shares in the last quarter. Nationwide Fund Advisors raised its position in Old Dominion Freight Line by 1.5% during the second quarter. Nationwide Fund Advisors now owns 147,592 shares of the transportation company’s stock worth $14,057,000 after acquiring an additional 2,221 shares in the last quarter. Riverhead Capital Management LLC raised its position in Old Dominion Freight Line by 44.6% during the second quarter. Riverhead Capital Management LLC now owns 6,765 shares of the transportation company’s stock worth $644,000 after acquiring an additional 2,085 shares in the last quarter. Oak Ridge Investments LLC raised its position in Old Dominion Freight Line by 37.9% during the second quarter. Oak Ridge Investments LLC now owns 23,426 shares of the transportation company’s stock worth $2,231,000 after acquiring an additional 6,442 shares in the last quarter. Finally, Timpani Capital Management LLC raised its position in Old Dominion Freight Line by 36.1% during the second quarter. Timpani Capital Management LLC now owns 43,669 shares of the transportation company’s stock worth $4,159,000 after acquiring an additional 11,583 shares in the last quarter. 73.84% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on the stock. BidaskClub lowered shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Cowen and Company reissued a “hold” rating and issued a $100.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, September 1st. Buckingham Research began coverage on shares of Old Dominion Freight Line in a research report on Monday, August 21st. They issued a “neutral” rating and a $105.00 price objective on the stock. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Tuesday, July 11th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $109.00 price objective (up from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $99.20.

In other news, Vice Chairman David S. Congdon sold 575 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the transaction, the insider now owns 9,516 shares of the company’s stock, valued at $930,950.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.00% of the company’s stock.

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Old Dominion Freight Line, Inc. (NASDAQ ODFL) opened at 102.45 on Wednesday. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 26.53 and a beta of 1.07. Old Dominion Freight Line, Inc. has a 12 month low of $66.33 and a 12 month high of $103.51. The stock has a 50 day moving average of $97.80 and a 200 day moving average of $91.97.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The business had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. During the same period in the previous year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post $4.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is presently 10.39%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

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

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