City Holding Co. Acquires 3,328 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

City Holding Co. lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 135.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,794 shares of the transportation company’s stock after acquiring an additional 3,328 shares during the period. City Holding Co.’s holdings in Old Dominion Freight Line were worth $1,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Symmetry Partners LLC increased its position in shares of Old Dominion Freight Line by 3.3% during the second quarter. Symmetry Partners LLC now owns 9,417 shares of the transportation company’s stock valued at $1,663,000 after acquiring an additional 305 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its stake in Old Dominion Freight Line by 4.0% in the second quarter. Jamison Private Wealth Management Inc. now owns 8,677 shares of the transportation company’s stock valued at $1,532,000 after purchasing an additional 331 shares during the last quarter. Csenge Advisory Group grew its holdings in Old Dominion Freight Line by 7.5% during the second quarter. Csenge Advisory Group now owns 1,630 shares of the transportation company’s stock valued at $288,000 after purchasing an additional 114 shares during the period. Valeo Financial Advisors LLC increased its position in Old Dominion Freight Line by 46.4% in the second quarter. Valeo Financial Advisors LLC now owns 2,164 shares of the transportation company’s stock worth $382,000 after buying an additional 686 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in Old Dominion Freight Line by 29.3% during the second quarter. NBC Securities Inc. now owns 17,840 shares of the transportation company’s stock valued at $3,150,000 after purchasing an additional 4,045 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock traded down $2.77 during mid-day trading on Friday, reaching $193.23. 2,169,928 shares of the company’s stock were exchanged, compared to its average volume of 1,643,562. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 2.29. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The stock’s 50 day moving average is $185.31 and its 200 day moving average is $199.11. The company has a market cap of $41.99 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 3.92 and a beta of 1.00.

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 the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ODFL shares. Morgan Stanley lowered their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Evercore ISI reaffirmed an “in-line” rating and set a $196.00 price objective (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Bank of America increased their target price on shares of 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. BMO Capital Markets boosted their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird upped their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average 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.