ProShare Advisors LLC Purchases 14,255 Shares of Old Dominion Freight Line, Inc. $ODFL

ProShare Advisors LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 320,037 shares of the transportation company’s stock after purchasing an additional 14,255 shares during the quarter. ProShare Advisors LLC’s holdings in Old Dominion Freight Line were worth $51,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Stephens Inc. AR raised its position in shares of Old Dominion Freight Line by 0.7% in the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after buying an additional 67 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Old Dominion Freight Line by 3.1% in the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock worth $392,000 after acquiring an additional 71 shares during the last quarter. iA Global Asset Management Inc. increased its stake in Old Dominion Freight Line by 0.3% in the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after acquiring an additional 72 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Old Dominion Freight Line by 0.6% in the 1st quarter. Summit Investment Advisors Inc. now owns 14,347 shares of the transportation company’s stock valued at $2,374,000 after acquiring an additional 79 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ODFL has been the topic of several research analyst reports. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Thursday, July 31st. Wells Fargo & Company decreased their price target on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 30th. UBS Group upped their target price on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Finally, Wolfe Research increased their target price on Old Dominion Freight Line from $129.00 to $140.00 in a research note on Tuesday, October 7th. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $159.33.

Old Dominion Freight Line Price Performance

ODFL opened at $137.76 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. The stock’s 50 day simple moving average is $141.26 and its 200 day simple moving average is $152.92. The firm has a market cap of $28.95 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.22 and a beta of 1.22. Old Dominion Freight Line, Inc. has a 1 year low of $133.69 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is presently 22.54%.

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.