Financial Engines Advisors L.L.C. boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.9% during the second quarter, Holdings Channel reports. The fund owned 90,313 shares of the transportation company’s stock after buying an additional 5,844 shares during the period. Old Dominion Freight Line accounts for about 0.4% of Financial Engines Advisors L.L.C.’s investment portfolio, making the stock its 16th largest position. Financial Engines Advisors L.L.C.’s holdings in Old Dominion Freight Line were worth $8,601,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Old Dominion Freight Line by 11,389.2% in the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock worth $462,150,000 after buying an additional 5,353,843 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Old Dominion Freight Line by 8,727.8% in the first quarter. Daiwa Securities Group Inc. now owns 158,900 shares of the transportation company’s stock worth $13,597,000 after buying an additional 157,100 shares in the last quarter. AQR Capital Management LLC raised its stake in Old Dominion Freight Line by 100.3% in the first quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock worth $25,619,000 after buying an additional 149,951 shares in the last quarter. Scopus Asset Management L.P. raised its stake in Old Dominion Freight Line by 37.6% in the first quarter. Scopus Asset Management L.P. now owns 480,392 shares of the transportation company’s stock worth $41,107,000 after buying an additional 131,330 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Old Dominion Freight Line by 7.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,942,570 shares of the transportation company’s stock worth $166,226,000 after buying an additional 130,065 shares in the last quarter. Hedge funds and other institutional investors own 75.07% of the company’s stock.

Old Dominion Freight Line, Inc. (ODFL) opened at 95.28 on Friday. The stock’s 50 day moving average price is $96.65 and its 200-day moving average price is $90.45. Old Dominion Freight Line, Inc. has a 12 month low of $66.33 and a 12 month high of $103.51. The firm has a market capitalization of $7.85 billion, a P/E ratio of 24.68 and a beta of 1.08.

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

The company also recently disclosed 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. The ex-dividend date is Friday, September 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 10.39%.

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ODFL has been the subject of a number of analyst reports. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Vertical Research restated a “hold” rating and set a $83.00 target price on shares of Old Dominion Freight Line in a report on Thursday, April 13th. Cowen and Company upped their target price on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a report on Thursday, April 27th. Finally, Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $83.00 to $96.00 in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $97.67.

About Old Dominion Freight Line

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.

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

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