Meeder Advisory Services Inc. Buys Shares of 3,771 Old Dominion Freight Line, Inc. $ODFL

Meeder Advisory Services Inc. bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,771 shares of the transportation company’s stock, valued at approximately $817,000.

A number of other large investors have also made changes to their positions in the company. Bell Investment Advisors Inc purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Evolution Wealth Management Inc. bought a new stake in Old Dominion Freight Line during the first quarter valued at approximately $29,000. Reflection Asset Management bought a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $28,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in Old Dominion Freight Line during the first quarter valued at approximately $39,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 1.4%

Old Dominion Freight Line stock opened at $205.08 on Thursday. The firm has a 50 day moving average of $221.86 and a 200 day moving average of $210.26. The firm has a market capitalization of $42.53 billion, a price-to-earnings 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 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business earned $1.27 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $228.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Rothschild & Co Redburn cut their price objective on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research report on Tuesday, May 12th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. Argus upped their price objective on Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $231.00 target price (up from $228.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. One equities 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $226.55.

Old Dominion Freight Line Company Profile

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.