9,037 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,037 shares of the transportation company’s stock, valued at approximately $1,495,000.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after purchasing an additional 108 shares during the last quarter. American National Bank & Trust purchased a new stake in Old Dominion Freight Line in the first quarter valued at about $30,000. Wayfinding Financial LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at about $39,000. Zions Bancorporation National Association UT purchased a new stake in Old Dominion Freight Line in the first quarter valued at about $39,000. Finally, Olde Wealth Management LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at about $43,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Baird R W upgraded Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st. Stifel Nicolaus decreased their price target on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. TD Cowen decreased their price target on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a research note on Thursday, July 31st. Truist Financial increased their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Finally, Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $167.62.

Old Dominion Freight Line Trading Up 1.3%

Shares of NASDAQ:ODFL opened at $150.71 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $140.71 and a 52-week high of $233.26. The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 3.49 and a beta of 1.23. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $156.90 and a 200-day moving average price of $160.87.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 21.88%.

Old Dominion Freight Line Company 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.