Cherokee Insurance Co Acquires Shares of 3,500 Old Dominion Freight Line, Inc. $ODFL

Cherokee Insurance Co bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,500 shares of the transportation company’s stock, valued at approximately $568,000.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC grew its stake in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares during the period. Cerity Partners LLC boosted its holdings in shares of Old Dominion Freight Line by 21.1% in the 1st quarter. Cerity Partners LLC now owns 35,828 shares of the transportation company’s stock worth $5,928,000 after buying an additional 6,253 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Old Dominion Freight Line by 20.4% in the 1st quarter. Ballentine Partners LLC now owns 1,983 shares of the transportation company’s stock worth $328,000 after buying an additional 336 shares during the last quarter. Schechter Investment Advisors LLC grew its position in Old Dominion Freight Line by 22.4% during the first quarter. Schechter Investment Advisors LLC now owns 1,538 shares of the transportation company’s stock valued at $254,000 after buying an additional 281 shares during the period. Finally, Stephens Inc. AR increased its holdings in Old Dominion Freight Line by 23.1% during the first quarter. Stephens Inc. AR now owns 10,194 shares of the transportation company’s stock worth $1,687,000 after buying an additional 1,912 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Down 0.5%

Old Dominion Freight Line stock opened at $138.85 on Thursday. The firm has a 50 day simple moving average of $140.87 and a 200 day simple moving average of $152.77. The company has a current ratio of 1.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a 1-year low of $133.69 and a 1-year high of $228.72. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 3.22 and a beta of 1.22.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $1.41 billion during 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 business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is currently 22.54%.

Analyst Ratings Changes

A number of research firms have weighed in on ODFL. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Monday, August 4th. Morgan Stanley dropped their price objective on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Vertical Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Thursday, July 31st. Barclays decreased their target price on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 30th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $159.33.

Old Dominion Freight Line Company Profile

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.