Gateway Investment Advisers LLC acquires 516 shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gateway Investment Advisers LLC increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The company owned 82,404 shares of the transportation company’s stock after acquiring an additional 516 shares during the period. Gateway Investment Advisers LLC’s holdings in Old Dominion Freight Line were worth $14,553,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. increased its position in shares of Old Dominion Freight Line by 40.3% in the 2nd quarter. QRG Capital Management Inc. now owns 6,095 shares of the transportation company’s stock worth $1,076,000 after acquiring an additional 1,752 shares in the last quarter. City Holding Co. increased its position in shares of Old Dominion Freight Line by 135.0% in the 2nd quarter. City Holding Co. now owns 5,794 shares of the transportation company’s stock worth $1,023,000 after acquiring an additional 3,328 shares in the last quarter. Symmetry Partners LLC increased its position in shares of Old Dominion Freight Line by 3.3% in the 2nd quarter. Symmetry Partners LLC now owns 9,417 shares of the transportation company’s stock valued at $1,663,000 after acquiring an additional 305 shares in the last quarter. Jamison Private Wealth Management Inc. increased its holdings in shares of Old Dominion Freight Line by 4.0% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 8,677 shares of the transportation company’s stock valued at $1,532,000 after acquiring an additional 331 shares in the last quarter. Finally, Csenge Advisory Group increased its holdings in shares of Old Dominion Freight Line by 7.5% in the 2nd quarter. Csenge Advisory Group now owns 1,630 shares of the transportation company’s stock valued at $288,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Upgrades and downgrades by analysts

Several analysts have recently issued reports on the stock. Raymond James increased their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI reiterated an “in-line” rating and issued a $196.00 price target (previously $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Baird RW upgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Wells Fargo & Company assumed coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target on the stock. Finally, UBS Group raised their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25. One research analyst rated the stock a “sell”, thirteen rated it a “hold”, six rated it a “buy” and one rated it as a “strong buy”. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $202.78.

Get our latest stock analysis on ODFL

Old Dominion Freight Line shares down 1.4%

NASDAQ ODFL shares fell $2.77 during midday trading on Friday, reaching $193.23. 2,169,928 shares of the company traded hands, compared to its average volume of 1,643,562. The stock has a market cap of $41.99 billion, a P/E ratio of 34.02, a PEG ratio of 3.92 and a beta of 1.00. The company has a 50-day moving average of $185.31 and a 200-day moving average of $199.13. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The company has a debt to equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last released its quarterly earnings results on Wednesday, July 24. The transportation company reported earnings per share of $1.48 for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company generated earnings per share of $1.33. The company’s revenue for the quarter increased 6.1% compared to the same quarter last year. On average, analysts expect Old Dominion Freight Line, Inc. to report earnings per share of $5.73 for the current fiscal year.

Old Dominion Freight Line announces dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18. Investors of record on Wednesday, September 4th will receive a dividend of $0.26 per share. This represents a dividend of $1.04 on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

About Old Dominion Freight Line

(Free report)

Old Dominion Freight Line, Inc. is a less-than-truckload carrier in the United States and North America. The company provides regional, inter-regional, national, and express less-than-truckload services. In addition, it offers a variety of value-added services, including container transportation, full load brokerage, and supply chain consulting.

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