Bahl & Gaynor Inc. Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Bahl & Gaynor Inc. increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 74.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,712 shares of the transportation company’s stock after purchasing an additional 7,974 shares during the period. Bahl & Gaynor Inc.’s holdings in Old Dominion Freight Line were worth $4,104,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC increased its stake in Old Dominion Freight Line by 98.3% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after acquiring an additional 50,019 shares during the last quarter. Forsta AP Fonden increased its stake in Old Dominion Freight Line by 65.0% in the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after acquiring an additional 15,600 shares during the last quarter. Sei Investments Co. increased its stake in Old Dominion Freight Line by 98.6% in the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after acquiring an additional 21,438 shares during the last quarter. Diversified Trust Co increased its stake in Old Dominion Freight Line by 162.9% in the 1st quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock worth $1,612,000 after acquiring an additional 4,554 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Old Dominion Freight Line by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after acquiring an additional 81,122 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the topic of several recent research reports. TD Cowen reduced their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. JPMorgan Chase & Co. reduced their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. UBS Group increased their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, BMO Capital Markets began coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $201.13.

Old Dominion Freight Line Stock Down 0.0 %

ODFL stock traded down $0.05 on Tuesday, reaching $195.26. 1,154,247 shares of the company traded hands, compared to its average volume of 1,594,156. The company has a market cap of $42.43 billion, a P/E ratio of 34.12, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00. The firm has a fifty day simple moving average of $178.95 and a 200-day simple moving average of $198.69. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.9 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

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.