Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Manchester Capital Management LLC

Manchester Capital Management LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 110.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,939 shares of the transportation company’s stock after acquiring an additional 1,019 shares during the quarter. Manchester Capital Management LLC’s holdings in Old Dominion Freight Line were worth $425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $27,000. Farmers & Merchants Investments Inc. boosted its stake in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Finally, Headinvest LLC purchased a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 3.2 %

Shares of NASDAQ:ODFL traded up $6.03 during trading on Friday, hitting $192.79. The company’s stock had a trading volume of 376,461 shares, compared to its average volume of 1,579,194. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The stock’s 50-day moving average price is $177.11 and its two-hundred day moving average price is $199.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The company has a market capitalization of $41.89 billion, a PE ratio of 32.88, a PEG ratio of 2.39 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.9 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ODFL shares. Evercore ISI reiterated an “in-line” rating and issued a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Baird R W raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Robert W. Baird raised shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price target for the company in a research report on Wednesday, May 8th. Bank of America dropped their price objective on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a report on Thursday, June 6th. Finally, Susquehanna lowered their target price on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, twelve have given 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 company currently has a consensus rating of “Hold” and a consensus target price of $200.55.

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.