Milestone Asset Management LLC Raises Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Milestone Asset Management LLC increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 15.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,884 shares of the transportation company’s stock after purchasing an additional 389 shares during the period. Milestone Asset Management LLC’s holdings in Old Dominion Freight Line were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stephens Inc. AR grew its stake in Old Dominion Freight Line by 0.7% in the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after purchasing an additional 67 shares during the period. Benjamin Edwards Inc. grew its stake in Old Dominion Freight Line by 3.1% in the first quarter. Benjamin Edwards Inc. now owns 2,368 shares of the transportation company’s stock worth $392,000 after purchasing an additional 71 shares during the period. iA Global Asset Management Inc. grew its stake in Old Dominion Freight Line by 0.3% in the second quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock worth $3,809,000 after purchasing an additional 72 shares during the period. Brighton Jones LLC boosted its holdings in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after acquiring an additional 79 shares in the last quarter. Finally, Grimes & Company Inc. boosted its holdings in Old Dominion Freight Line by 6.5% in the second quarter. Grimes & Company Inc. now owns 1,451 shares of the transportation company’s stock worth $236,000 after acquiring an additional 88 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ODFL has been the topic of several analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of Old Dominion Freight Line in a report on Thursday, October 30th. Citigroup dropped their target price on Old Dominion Freight Line from $173.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Morgan Stanley dropped their target price on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Stephens dropped their target price on Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Finally, Wolfe Research boosted their target price on Old Dominion Freight Line from $129.00 to $140.00 in a report on Tuesday, October 7th. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $159.33.

Old Dominion Freight Line Trading Up 2.8%

Shares of NASDAQ:ODFL opened at $141.36 on Wednesday. The company has a market cap of $29.71 billion, a P/E ratio of 28.44, a PEG ratio of 3.22 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. Old Dominion Freight Line, Inc. has a 1 year low of $133.69 and a 1 year high of $233.26. The stock’s fifty day moving average price is $142.25 and its 200-day moving average price is $153.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 22.54%.

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.