HAP Trading LLC acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,640 shares of the transportation company’s stock, valued at approximately $1,502,000.

Other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in Old Dominion Freight Line during the first quarter worth about $4,170,000. Capstone Asset Management Co. grew its holdings in Old Dominion Freight Line by 1.9% during the second quarter. Capstone Asset Management Co. now owns 7,453 shares of the transportation company’s stock worth $710,000 after acquiring an additional 140 shares during the period. NN Investment Partners Holdings N.V. grew its holdings in Old Dominion Freight Line by 8.2% during the second quarter. NN Investment Partners Holdings N.V. now owns 13,315 shares of the transportation company’s stock worth $1,268,000 after acquiring an additional 1,010 shares during the period. Creative Planning grew its holdings in Old Dominion Freight Line by 15.6% during the second quarter. Creative Planning now owns 3,760 shares of the transportation company’s stock worth $358,000 after acquiring an additional 508 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Old Dominion Freight Line by 4.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 25,185 shares of the transportation company’s stock worth $2,399,000 after acquiring an additional 1,059 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.

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Old Dominion Freight Line, Inc. (NASDAQ:ODFL) traded up $1.77 during midday trading on Friday, hitting $119.09. The stock had a trading volume of 332,500 shares, compared to its average volume of 456,574. The stock has a market capitalization of $9,664.34, a P/E ratio of 28.90, a PEG ratio of 1.72 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 1-year low of $80.56 and a 1-year high of $124.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.44.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. The business had revenue of $872.99 million for the quarter, compared to the consensus estimate of $855.85 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. research analysts forecast that Old Dominion Freight Line, Inc. will post 4.28 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be given a $0.10 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.34%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 9.85%.

Several analysts have commented on the company. Citigroup Inc. raised their price objective on Old Dominion Freight Line from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, October 27th. BidaskClub lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Buckingham Research raised their price objective on Old Dominion Freight Line from $105.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Zacks Investment Research lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price objective for the company from $108.00 to $98.00 in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $108.23.

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.

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

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