Russell Investments Group Ltd. Buys 203,498 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Russell Investments Group Ltd. grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 129.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 361,053 shares of the transportation company’s stock after purchasing an additional 203,498 shares during the period. Russell Investments Group Ltd. owned approximately 0.17% of Old Dominion Freight Line worth $83,950,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ODFL. Fortitude Family Office LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Trust Co. of Vermont purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $27,000. Farmers & Merchants Investments Inc. raised its holdings 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 worth $27,000 after buying an additional 62 shares during the period. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth approximately $29,000. Finally, Headinvest LLC purchased a new stake in shares of Old Dominion Freight Line in the third quarter worth approximately $30,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Up 4.4 %

Shares of Old Dominion Freight Line stock traded up $8.59 during trading on Tuesday, reaching $203.84. The company’s stock had a trading volume of 2,009,557 shares, compared to its average volume of 1,596,676. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a market cap of $44.29 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of 2.50 and a beta of 1.00. 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 50-day simple moving average of $177.51 and a two-hundred day simple moving average of $198.71.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.9 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target on the stock. TD Cowen reduced their price target on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a report on Monday, April 29th. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $200.55.

Old Dominion Freight Line 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.