Sagespring Wealth Partners LLC Buys New Position in Old Dominion Freight Line, Inc. $ODFL

Sagespring Wealth Partners LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,450 shares of the transportation company’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ODFL. Benjamin Edwards Inc. boosted its position in shares of Old Dominion Freight Line by 3.1% during the 1st quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock valued at $392,000 after purchasing an additional 71 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares in the last quarter. Grimes & Company Inc. boosted its position in shares of Old Dominion Freight Line by 6.5% during the 2nd quarter. Grimes & Company Inc. now owns 1,451 shares of the transportation company’s stock valued at $236,000 after purchasing an additional 88 shares in the last quarter. Triumph Capital Management boosted its position in shares of Old Dominion Freight Line by 7.0% during the 2nd quarter. Triumph Capital Management now owns 1,357 shares of the transportation company’s stock valued at $220,000 after purchasing an additional 89 shares in the last quarter. Finally, Norden Group LLC boosted its position in shares of Old Dominion Freight Line by 6.5% during the 1st quarter. Norden Group LLC now owns 1,508 shares of the transportation company’s stock valued at $250,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 0.0%

ODFL stock opened at $138.04 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $133.69 and a 52-week high of $233.26. The company’s 50 day simple moving average is $145.42 and its 200-day simple moving average is $154.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $29.01 billion, a P/E ratio of 26.96, a P/E/G ratio of 3.26 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results 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). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

Analyst Ratings Changes

ODFL has been the subject of several research reports. The Goldman Sachs Group reduced their price objective on shares of Old Dominion Freight Line from $195.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Wolfe Research raised their price objective on shares of Old Dominion Freight Line from $129.00 to $140.00 in a research report on Tuesday, October 7th. Wells Fargo & Company reduced their price objective on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating for the company in a research report on Thursday, July 31st. Susquehanna upped their price objective on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $163.86.

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.