Pitcairn Co. Has $766,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pitcairn Co. lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 97.7% during the first quarter, HoldingsChannel.com reports. The fund owned 3,495 shares of the transportation company’s stock after purchasing an additional 1,727 shares during the period. Pitcairn Co.’s holdings in Old Dominion Freight Line were worth $766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ODFL. Trust Co. of Vermont bought a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. increased its position in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line during the 4th quarter worth $29,000. Fortitude Family Office LLC lifted its holdings in Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares in the last quarter. Finally, Washington Trust Advisors Inc. grew its stake in Old Dominion Freight Line by 138.3% in the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 83 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL stock traded up $11.08 during mid-day trading on Thursday, hitting $205.70. 3,122,478 shares of the company were exchanged, compared to its average volume of 1,621,865. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The stock has a market capitalization of $44.70 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.55 and a beta of 1.00. The business has a 50 day simple moving average of $179.40 and a 200-day simple moving average of $198.68. The company has a current ratio of 2.29, 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 (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company posted $1.33 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors 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 annualized dividend and a dividend yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday. Susquehanna dropped their target price on 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. JPMorgan Chase & Co. raised their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James upped their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Barclays decreased their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $201.97.

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.