Ameritas Advisory Services LLC Invests $115,000 in Old Dominion Freight Line, Inc. $ODFL

Ameritas Advisory Services LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 711 shares of the transportation company’s stock, valued at approximately $115,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after buying an additional 108 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at approximately $39,000. Zions Bancorporation National Association UT purchased a new stake in Old Dominion Freight Line in the first quarter valued at approximately $39,000. Olde Wealth Management LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at approximately $43,000. Finally, WPG Advisers LLC purchased a new stake in Old Dominion Freight Line in the first quarter valued at approximately $51,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 2.4%

Shares of ODFL stock opened at $141.28 on Friday. The stock has a market cap of $29.69 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 3.39 and a beta of 1.19. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The firm’s 50 day moving average price is $146.54 and its two-hundred day moving average price is $156.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.48 earnings per share. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line’s payout ratio is presently 21.88%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ODFL shares. TD Cowen lowered their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a report on Thursday, July 31st. Morgan Stanley lowered their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Thursday, July 31st. Barclays lowered their target price on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Finally, Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $164.09.

About Old Dominion Freight Line

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.