Salem Investment Counselors Inc. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3,281.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,082 shares of the transportation company’s stock after acquiring an additional 1,050 shares during the period. Salem Investment Counselors Inc.’s holdings in Old Dominion Freight Line were worth $118,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of Old Dominion Freight Line by 11.4% in the second quarter. Pacer Advisors Inc. now owns 12,184 shares of the transportation company’s stock worth $1,160,000 after acquiring an additional 1,243 shares during the last quarter. Scout Investments Inc. lifted its position in Old Dominion Freight Line by 8.2% in the third quarter. Scout Investments Inc. now owns 126,513 shares of the transportation company’s stock worth $13,930,000 after purchasing an additional 9,624 shares during the period. Daiwa Securities Group Inc. lifted its position in Old Dominion Freight Line by 18.1% in the third quarter. Daiwa Securities Group Inc. now owns 208,016 shares of the transportation company’s stock worth $22,905,000 after purchasing an additional 31,816 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Old Dominion Freight Line in the second quarter worth $590,000. Finally, Principal Financial Group Inc. lifted its position in Old Dominion Freight Line by 4.1% in the second quarter. Principal Financial Group Inc. now owns 294,986 shares of the transportation company’s stock worth $28,094,000 after purchasing an additional 11,734 shares during the period. Institutional investors and hedge funds own 72.45% of the company’s stock.

Several research analysts recently commented on the company. Robert W. Baird reaffirmed a “hold” rating and issued a $113.00 target price on shares of Old Dominion Freight Line in a research report on Friday, October 6th. BidaskClub cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Cowen reaffirmed a “hold” rating and issued a $100.00 target price on shares of Old Dominion Freight Line in a research report on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $117.00 target price (up from $111.00) on shares of Old Dominion Freight Line in a research report on Wednesday. Finally, Buckingham Research assumed coverage on Old Dominion Freight Line in a research report on Monday, August 21st. They issued a “neutral” rating and a $105.00 target price for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $112.46.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) opened at $128.11 on Friday. The stock has a market capitalization of $10,632.26, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. Old Dominion Freight Line, Inc. has a twelve month low of $80.56 and a twelve month high of $131.39. 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 issued its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. The company had revenue of $872.99 million during the quarter, compared to analysts’ expectations 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 revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 4.3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. Old Dominion Freight Line’s payout ratio is presently 9.85%.

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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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