Valley National Advisers Inc. Has $1.71 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

Valley National Advisers Inc. raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,555 shares of the transportation company’s stock after acquiring an additional 690 shares during the quarter. Valley National Advisers Inc.’s holdings in Old Dominion Freight Line were worth $1,712,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Old Dominion Freight Line by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock valued at $3,750,157,000 after buying an additional 416,097 shares during the last quarter. Invesco Ltd. increased its position in shares of Old Dominion Freight Line by 1.3% in the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock valued at $706,841,000 after acquiring an additional 53,079 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Old Dominion Freight Line by 79.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after acquiring an additional 1,151,221 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock valued at $402,002,000 after purchasing an additional 754,796 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Old Dominion Freight Line by 11.4% during the first quarter. Ameriprise Financial Inc. now owns 1,412,698 shares of the transportation company’s stock valued at $232,955,000 after purchasing an additional 145,058 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.5%

Shares of NASDAQ ODFL opened at $141.33 on Monday. The stock has a market capitalization of $29.70 billion, a P/E ratio of 27.60, a PEG ratio of 3.30 and a beta of 1.19. The stock’s fifty day moving average is $147.58 and its 200 day moving average is $156.57. Old Dominion Freight Line, Inc. has a 52 week low of $133.69 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ODFL shares. Evercore ISI dropped their price objective on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 30th. Citigroup dropped their price target on shares of Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Stephens decreased their price objective on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Old Dominion Freight Line from $158.00 to $146.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Finally, Wells Fargo & Company cut their target price on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $166.52.

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.