Jupiter Asset Management Ltd. Purchases 1,127 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Jupiter Asset Management Ltd. lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.9% in the second quarter, HoldingsChannel reports. The fund owned 130,661 shares of the transportation company’s stock after buying an additional 1,127 shares during the period. Jupiter Asset Management Ltd.’s holdings in Old Dominion Freight Line were worth $23,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in Old Dominion Freight Line by 22.5% in the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 27 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Old Dominion Freight Line by 1.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after purchasing an additional 30 shares during the last quarter. Partners Capital Investment Group LLP increased its holdings in Old Dominion Freight Line by 6.1% in the fourth quarter. Partners Capital Investment Group LLP now owns 697 shares of the transportation company’s stock valued at $283,000 after purchasing an additional 40 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in Old Dominion Freight Line by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock valued at $1,858,000 after purchasing an additional 47 shares during the last quarter. Finally, STF Management LP increased its holdings in Old Dominion Freight Line by 2.7% in the fourth quarter. STF Management LP now owns 1,850 shares of the transportation company’s stock valued at $750,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $191.26 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a market capitalization of $41.56 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 3.83 and a beta of 0.99. The firm’s 50 day moving average is $194.81 and its 200-day moving average is $196.86.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its 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 for 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 firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 earnings per share. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.65 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. JPMorgan Chase & Co. dropped their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Bank of America dropped their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Susquehanna dropped their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. Finally, Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $201.00.

Old Dominion Freight Line Company 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.