8,196 Shares in Old Dominion Freight Line, Inc. $ODFL Acquired by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,196 shares of the transportation company’s stock, valued at approximately $1,330,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after buying an additional 108 shares during the period. Wayfinding Financial LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter worth approximately $39,000. Zions Bancorporation National Association UT purchased a new stake in Old Dominion Freight Line in the 1st quarter worth approximately $39,000. Olde Wealth Management LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter worth approximately $43,000. Finally, WPG Advisers LLC purchased a new stake in Old Dominion Freight Line in the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.0%

Shares of ODFL stock opened at $138.04 on Monday. The stock’s fifty day moving average is $145.42 and its two-hundred day moving average is $154.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $29.01 billion, a P/E ratio of 26.96, a PEG ratio of 3.26 and a beta of 1.19. Old Dominion Freight Line, Inc. has a fifty-two week low of $133.69 and a fifty-two week high of $233.26.

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 for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 EPS. Research analysts expect 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 issued a $0.28 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.88%.

Analyst Ratings Changes

Several equities research analysts have commented on ODFL shares. The Goldman Sachs Group lowered their price objective on Old Dominion Freight Line from $195.00 to $186.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Barclays lowered their price objective on Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Citigroup decreased their target price on 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. Finally, Stifel Nicolaus decreased their target price on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Eight equities research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $163.86.

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.