S Bank Fund Management Ltd Purchases New Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

S Bank Fund Management Ltd purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,639 shares of the transportation company’s stock, valued at approximately $602,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after acquiring an additional 108 shares during the period. American National Bank & Trust acquired a new position in Old Dominion Freight Line during the first quarter worth $30,000. Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line during the first quarter worth $39,000. Zions Bancorporation National Association UT acquired a new stake in Old Dominion Freight Line during the 1st quarter worth $39,000. Finally, Itau Unibanco Holding S.A. boosted its stake in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $153.46 on Thursday. Old Dominion Freight Line, Inc. has a 52 week low of $140.91 and a 52 week high of $233.26. The business’s fifty day simple moving average is $159.87 and its 200-day simple moving average is $166.38. The firm has a market cap of $32.25 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $1.48 EPS. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Monday, August 4th. Raymond James Financial lowered their target price on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. TD Cowen lowered their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating on the stock in a research note on Thursday, July 31st. Finally, Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $167.62.

Old Dominion Freight Line 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.