Versant Capital Management Inc Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Versant Capital Management Inc grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1,630.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173 shares of the transportation company’s stock after purchasing an additional 163 shares during the period. Versant Capital Management Inc’s holdings in Old Dominion Freight Line were worth $31,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after purchasing an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its position in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after purchasing an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares during the period. Finally, Capital World Investors raised its stake in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In related news, Director Thomas A. Stith III 550 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America upped their target price on Old Dominion Freight Line from $192.00 to $203.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price for the company in a research note on Monday, April 29th. UBS Group upped their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. BMO Capital Markets upped their target price on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley reduced their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $202.78.

Old Dominion Freight Line Trading Down 0.0 %

Shares of NASDAQ ODFL traded down $0.07 during mid-day trading on Wednesday, reaching $197.79. 480,034 shares of the company’s stock were exchanged, compared to its average volume of 1,620,853. The firm has a market capitalization of $42.98 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 3.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The company’s 50-day moving average is $184.06 and its 200-day moving average is $199.23.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 EPS. Analysts expect that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

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.