Jupiter Topco LLC Invests $4.47 Million in Old Dominion Freight Line, Inc. $ODFL

Jupiter Topco LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 20,630 shares of the transportation company’s stock, valued at approximately $4,467,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bogart Wealth LLC raised its stake in Old Dominion Freight Line by 9.9% in the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after buying an additional 46 shares during the period. Private Advisor Group LLC increased its holdings in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after acquiring an additional 55 shares during the last quarter. Keybank National Association OH raised its stake in Old Dominion Freight Line by 2.3% in the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after acquiring an additional 56 shares during the period. Deseret Mutual Benefit Administrators raised its stake in Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after acquiring an additional 57 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $199.96 on Tuesday. The stock has a market capitalization of $41.46 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 3.45 and a beta of 1.18. The business’s fifty day moving average price is $217.18 and its two-hundred day moving average price is $210.66. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 earnings per share. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is currently 22.35%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday, July 6th. Wall Street Zen lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. raised their target price on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Stifel Nicolaus set a $263.00 target price on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $227.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $226.55.

Insider Activity

In other Old Dominion Freight Line news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president owned 22,746 shares in the company, valued at $4,512,578.94. This represents a 46.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.20% of the stock is currently owned by insiders.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.