Townsquare Capital LLC Boosts Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Townsquare Capital LLC boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 25,033 shares of the transportation company’s stock after purchasing an additional 2,212 shares during the period. Townsquare Capital LLC’s holdings in Old Dominion Freight Line were worth $4,142,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after purchasing an additional 416,097 shares during the period. Capital World Investors increased its position in Old Dominion Freight Line by 1.1% in the fourth quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock worth $442,784,000 after buying an additional 27,367 shares during the last quarter. Northern Trust Corp raised its stake in shares of Old Dominion Freight Line by 15.2% in the fourth quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock valued at $349,952,000 after buying an additional 261,305 shares during the period. First Trust Advisors LP lifted its position in shares of Old Dominion Freight Line by 13.6% during the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock valued at $272,969,000 after buying an additional 185,500 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Old Dominion Freight Line by 1,575.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock worth $255,390,000 after acquiring an additional 1,361,397 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 0.6%

Shares of ODFL opened at $144.46 on Monday. Old Dominion Freight Line, Inc. has a 1-year low of $141.73 and a 1-year high of $233.26. The company has a market capitalization of $30.36 billion, a P/E ratio of 28.21, a P/E/G ratio of 3.33 and a beta of 1.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s 50 day simple moving average is $160.64 and its 200 day simple moving average is $166.93.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $1.48 EPS. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is currently 21.88%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 8th. UBS Group dropped their price target on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a “neutral” rating on the stock in a research note on Thursday, July 31st. Raymond James Financial reduced their price objective on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Vertical Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Thursday, July 31st. Finally, Benchmark reaffirmed a “hold” rating and issued a $102.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $167.62.

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.