Inceptionr LLC Takes $380,000 Position in Old Dominion Freight Line, Inc. $ODFL

Inceptionr LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,344 shares of the transportation company’s stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ODFL. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth approximately $26,000. Rossby Financial LCC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $28,000. Zions Bancorporation National Association UT bought a new stake in Old Dominion Freight Line in the 1st quarter valued at about $39,000. Chilton Capital Management LLC bought a new stake in Old Dominion Freight Line during the 2nd quarter valued at $47,000. Finally, WPG Advisers LLC bought a new stake in shares of Old Dominion Freight Line during the first quarter valued at about $51,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $135.21 on Friday. The company’s fifty day moving average is $137.50 and its two-hundred day moving average is $150.79. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $227.00. 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 firm has a market capitalization of $28.27 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 3.22 and a beta of 1.22.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results 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 net margin of 18.97% and a return on equity of 24.92%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the company earned $1.43 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 22.54%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ODFL. Barclays decreased their target price on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Jefferies Financial Group reduced their target price on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, October 9th. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Monday, August 4th. Finally, Stifel Nicolaus lowered their price objective on shares of Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating on the stock in a research report on Tuesday, October 28th. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.