Occudo Quantitative Strategies LP Has $6.92 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

Occudo Quantitative Strategies LP grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 510.3% during the 2nd quarter, Holdings Channel reports. The firm owned 42,623 shares of the transportation company’s stock after purchasing an additional 35,639 shares during the period. Old Dominion Freight Line makes up approximately 0.8% of Occudo Quantitative Strategies LP’s portfolio, making the stock its 28th biggest position. Occudo Quantitative Strategies LP’s holdings in Old Dominion Freight Line were worth $6,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Stephens Inc. AR lifted its holdings 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 valued at $1,665,000 after buying an additional 67 shares during the period. YANKCOM Partnership boosted its position in shares of Old Dominion Freight Line by 9.1% in the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after purchasing an additional 68 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Old Dominion Freight Line by 3.1% in the 1st 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 last quarter. Legacy Capital Wealth Partners LLC grew its stake in shares of Old Dominion Freight Line by 4.4% during the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after purchasing an additional 71 shares during the period. Finally, iA Global Asset Management Inc. increased its holdings 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 valued at $3,809,000 after purchasing an additional 72 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $158.92 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $209.61. The company’s fifty day simple moving average is $139.45 and its 200-day simple moving average is $149.70. The firm has a market cap of $33.23 billion, a PE ratio of 31.98, a P/E/G ratio of 4.10 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

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

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is currently 22.54%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ODFL shares. BMO Capital Markets upgraded Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $172.00 to $170.00 in a report on Monday, December 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Barclays dropped 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 note on Wednesday, October 1st. Jefferies Financial Group decreased their target price on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Finally, The Goldman Sachs Group dropped their price target on Old Dominion Freight Line from $186.00 to $181.00 in a research report on Thursday, October 30th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $154.48.

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.