Moody National Bank Trust Division Makes New $232,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Moody National Bank Trust Division bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 907 shares of the transportation company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $30,000. Tcwp LLC acquired a new stake in shares of Old Dominion Freight Line during the 1st quarter worth about $26,000. NuWave Investment Management LLC purchased a new position in Old Dominion Freight Line during the 1st quarter valued at about $47,000. GW&K Investment Management LLC purchased a new position in Old Dominion Freight Line during the 1st quarter valued at about $50,000. Finally, Ellevest Inc. boosted its holdings in Old Dominion Freight Line by 151.5% during the 1st quarter. Ellevest Inc. now owns 171 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 103 shares during the period. 73.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group lowered their target price on Old Dominion Freight Line from $288.00 to $279.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Raymond James decreased their price objective on Old Dominion Freight Line from $305.00 to $265.00 in a research note on Friday, July 15th. Evercore ISI decreased their price objective on Old Dominion Freight Line from $334.00 to $301.00 and set an “in-line” rating for the company in a research note on Tuesday, July 12th. Wolfe Research cut Old Dominion Freight Line from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, July 12th. Finally, Citigroup set a $270.00 price objective on Old Dominion Freight Line in a research note on Tuesday, July 19th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $292.13.

Old Dominion Freight Line Price Performance

ODFL stock opened at $253.58 on Wednesday. The business has a 50 day moving average price of $282.29 and a 200 day moving average price of $276.35. The stock has a market cap of $28.34 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.36 and a beta of 1.07. Old Dominion Freight Line, Inc. has a fifty-two week low of $231.31 and a fifty-two week high of $373.58. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The transportation company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.09 by $0.21. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.66 billion. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 earnings per share. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 11.72 earnings per share 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 21st. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.47%. The ex-dividend date is Tuesday, September 6th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 11.13%.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 6,246 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $300.14, for a total value of $1,874,674.44. Following the transaction, the chairman now owns 809,569 shares of the company’s stock, valued at $242,984,039.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.30% of the stock is currently owned by corporate insiders.

About Old Dominion Freight Line

(Get Rating)

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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

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