Flossbach Von Storch SE Purchases New Position in Old Dominion Freight Line, Inc. $ODFL

Flossbach Von Storch SE bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, Holdings Channel reports. The firm bought 3,159 shares of the transportation company’s stock, valued at approximately $684,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Old Dominion Freight Line by 5.3% during the fourth 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 during the last quarter. Empowered Funds LLC increased its holdings in Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after purchasing an additional 5,866 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $7,478,000. Jump Financial LLC bought a new position in shares of Old Dominion Freight Line during the second quarter worth $2,891,000. Finally, AXA S.A. grew its stake in Old Dominion Freight Line by 1.2% in the second quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock valued at $3,287,000 after acquiring an additional 238 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.4%

ODFL stock opened at $205.08 on Thursday. The company’s 50-day moving average price is $221.86 and its two-hundred day moving average price is $210.26. The firm has a market cap of $42.53 billion, a P/E ratio of 39.51, a P/E/G ratio of 3.61 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is currently 22.35%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a report on Monday, June 8th. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $244.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, July 29th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Finally, Argus upped their target price on Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $226.55.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.