Russell Investments Group Ltd. raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 229.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,617 shares of the transportation company’s stock after buying an additional 116,777 shares during the period. Russell Investments Group Ltd.’s holdings in Old Dominion Freight Line were worth $15,965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SRS Capital Advisors Inc. increased its position in Old Dominion Freight Line by 18.1% in the first quarter. SRS Capital Advisors Inc. now owns 1,308 shares of the transportation company’s stock worth $111,000 after buying an additional 200 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Old Dominion Freight Line by 115.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,206 shares of the transportation company’s stock worth $115,000 after buying an additional 647 shares during the period. IFP Advisors Inc increased its position in Old Dominion Freight Line by 1.9% in the first quarter. IFP Advisors Inc now owns 1,839 shares of the transportation company’s stock worth $157,000 after buying an additional 34 shares during the period. Private Advisor Group LLC acquired a new position in Old Dominion Freight Line during the first quarter worth $166,000. Finally, Atria Investments LLC increased its position in Old Dominion Freight Line by 2.6% in the first quarter. Atria Investments LLC now owns 2,772 shares of the transportation company’s stock worth $237,000 after buying an additional 69 shares during the period. 75.07% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) traded down 1.25% during mid-day trading on Thursday, hitting $95.85. 122,484 shares of the stock were exchanged. Old Dominion Freight Line, Inc. has a 52 week low of $66.33 and a 52 week high of $103.51. The company has a market capitalization of $7.90 billion, a PE ratio of 24.83 and a beta of 1.08. The stock’s 50-day moving average is $96.56 and its 200 day moving average is $90.41.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.40 annualized dividend and a yield of 0.41%. Old Dominion Freight Line’s payout ratio is currently 10.39%.

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A number of research firms recently weighed in on ODFL. BidaskClub downgraded shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Vertical Research reaffirmed a “hold” rating and issued a $83.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 13th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday, July 11th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $109.00 target price (up previously 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. Finally, Deutsche Bank AG downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the company from $108.00 to $98.00 in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $97.67.

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.

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

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