Cwm LLC Increases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Cwm LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 97.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,750 shares of the transportation company’s stock after purchasing an additional 4,820 shares during the period. Cwm LLC’s holdings in Old Dominion Freight Line were worth $1,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Old Dominion Freight Line by 117.0% during the first 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 acquiring an additional 7,401,526 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Old Dominion Freight Line by 94.6% in the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after purchasing an additional 2,888,205 shares in the last quarter. Capital Research Global Investors grew its position in shares of Old Dominion Freight Line by 59.0% in the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares during the last quarter. Finally, Capital World Investors increased 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 purchasing an additional 1,228,116 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 1.9 %

NASDAQ:ODFL traded down $3.63 during trading hours on Friday, hitting $192.37. The stock had a trading volume of 440,122 shares, compared to its average volume of 1,632,256. The company has a market cap of $41.80 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 3.92 and a beta of 1.00. The business has a 50 day simple moving average of $184.95 and a two-hundred day simple moving average of $199.17. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The company has a current ratio of 1.46, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

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, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business earned $1.33 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Analysts predict that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ODFL shares. Raymond James upped their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, July 25th. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 target price on the stock. Finally, Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $202.78.

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.