Osmosis Investment Management UK Ltd Buys New Holdings in Old Dominion Freight Line, Inc. $ODFL

Osmosis Investment Management UK Ltd purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 5,088 shares of the transportation company’s stock, valued at approximately $1,102,000.

Other institutional investors have also recently bought and sold shares of the company. Bogart Wealth LLC lifted its position in shares of Old Dominion Freight Line by 9.9% in the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after buying an additional 46 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after acquiring an additional 55 shares during the last quarter. Keybank National Association OH increased its holdings in shares of Old Dominion Freight Line by 2.3% during the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after acquiring an additional 56 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after acquiring an additional 57 shares during the period. Finally, Verdence Capital Advisors LLC raised its stake in Old Dominion Freight Line by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $227.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $244.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Raymond James Financial reissued an “outperform” rating and issued a $241.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. Finally, Evercore restated an “outperform” rating and set a $243.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $226.55.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $201.48 on Tuesday. The company has a market cap of $41.78 billion, a price-to-earnings ratio of 38.82, a PEG ratio of 3.59 and a beta of 1.18. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. The stock has a fifty day moving average price of $219.49 and a 200-day moving average price of $210.71.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business earned $1.27 earnings per share. Old Dominion Freight Line’s revenue was up 10.4% on a year-over-year basis. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.