American National Bank & Trust Invests $30,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

American National Bank & Trust acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 180 shares of the transportation company’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock worth $870,311,000 after acquiring an additional 96,410 shares during the period. Norges Bank bought a new position in Old Dominion Freight Line during the 4th quarter valued at about $494,916,000. Capital World Investors lifted its holdings in Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after purchasing an additional 27,367 shares during the last quarter. Northern Trust Corp lifted its holdings in Old Dominion Freight Line by 15.2% during the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock valued at $349,952,000 after purchasing an additional 261,305 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Old Dominion Freight Line by 13.6% during the 4th quarter. First Trust Advisors LP now owns 1,547,441 shares of the transportation company’s stock valued at $272,969,000 after purchasing an additional 185,500 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays cut their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Raymond James set a $185.00 price objective on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a research report on Thursday, April 24th. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and raised their price objective for the company from $190.00 to $200.00 in a research report on Monday. Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $180.42.

Old Dominion Freight Line Trading Down 0.1%

ODFL opened at $160.00 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31. The firm has a 50 day simple moving average of $159.25 and a 200 day simple moving average of $179.16. Old Dominion Freight Line, Inc. has a fifty-two week low of $144.90 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, June 4th. Old Dominion Freight Line’s dividend payout ratio is currently 21.01%.

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.