Sone Capital Management LLC Purchases Shares of 51,842 Old Dominion Freight Line, Inc. $ODFL

Sone Capital Management LLC purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 51,842 shares of the transportation company’s stock, valued at approximately $11,229,000.

Other institutional investors also recently modified their holdings of the company. Bell Investment Advisors Inc bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $25,000. Solstein Capital LLC bought a new position in Old Dominion Freight Line in the 2nd quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Reflection Asset Management acquired a new position in Old Dominion Freight Line during the 4th quarter worth $28,000. Finally, Evolution Wealth Management Inc. acquired a new position in Old Dominion Freight Line during the 1st quarter worth $29,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 2.4%

ODFL stock opened at $201.48 on Tuesday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The company has a market cap of $41.78 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 3.59 and a beta of 1.18. The business’s 50-day simple moving average is $219.49 and its 200 day simple moving average is $210.71.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the firm posted $1.27 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is presently 22.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays raised their price target on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. UBS Group reissued a “neutral” rating and set a $228.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. Wall Street Zen raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Argus lifted their price target on Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $226.55.

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.