Fifth Third Bancorp Purchases 118 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fifth Third Bancorp raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,682 shares of the transportation company’s stock after purchasing an additional 118 shares during the period. Fifth Third Bancorp’s holdings in Old Dominion Freight Line were worth $1,436,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ODFL. American National Bank & Trust bought a new stake in Old Dominion Freight Line in the 1st quarter valued at $30,000. Whipplewood Advisors LLC bought a new stake in Old Dominion Freight Line in the 4th quarter valued at $35,000. Itau Unibanco Holding S.A. boosted its holdings in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 192 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $51,000. Finally, CoreCap Advisors LLC raised its stake in shares of Old Dominion Freight Line by 98.2% in the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock valued at $60,000 after buying an additional 168 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Down 1.4%

ODFL opened at $160.18 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $33.85 billion, a PE ratio of 29.23, a PEG ratio of 2.89 and a beta of 1.26. Old Dominion Freight Line, Inc. has a 1-year low of $144.90 and a 1-year high of $233.26. The firm has a 50-day moving average price of $159.53 and a two-hundred day moving average price of $175.53.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. Old Dominion Freight Line’s payout ratio is presently 21.01%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ODFL shares. Wells Fargo & Company set a $150.00 price objective on shares of Old Dominion Freight Line and gave the company an “underweight” rating in a research note on Thursday, April 24th. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $186.00 to $183.00 in a research note on Tuesday, April 8th. Benchmark restated a “hold” rating and issued a $102.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday. Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $176.50.

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.