Russell Investments Group Ltd. Has $47.32 Million Position in Old Dominion Freight Line, Inc. $ODFL

Russell Investments Group Ltd. lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 291,417 shares of the transportation company’s stock after purchasing an additional 19,853 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Old Dominion Freight Line worth $47,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stephens Inc. AR boosted its position in 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 valued at $1,665,000 after buying an additional 67 shares in the last quarter. YANKCOM Partnership lifted its stake in shares of Old Dominion Freight Line by 9.1% in the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 68 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Old Dominion Freight Line by 3.1% during the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock valued at $392,000 after acquiring an additional 71 shares in the last quarter. iA Global Asset Management Inc. grew its position in Old Dominion Freight Line by 0.3% during 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. Finally, STF Management LP grew its position in Old Dominion Freight Line by 2.4% during the 2nd quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock worth $532,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $134.91 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.20. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $228.72. The company has a 50 day simple moving average of $137.61 and a two-hundred day simple moving average of $151.08. The company has a market capitalization of $28.21 billion, a PE ratio of 27.14, a P/E/G ratio of 3.22 and a beta of 1.22.

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

Old Dominion Freight Line Dividend Announcement

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 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is 22.54%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Zacks Research upgraded Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Monday, August 4th. Citigroup started coverage on shares of Old Dominion Freight Line in a report on Wednesday. They set a “buy” rating on the stock. Finally, Rothschild & Co Redburn assumed coverage on shares of Old Dominion Freight Line in a research note on Wednesday. They set a “sell” rating and a $114.00 price target for the company. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $157.27.

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.