Danske Bank A S Buys Shares of 85,171 Old Dominion Freight Line, Inc. $ODFL

Danske Bank A S bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 85,171 shares of the transportation company’s stock, valued at approximately $18,448,000.

Other institutional investors have also recently made changes to their positions in the company. Bell Investment Advisors Inc acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares in the last quarter. Reflection Asset Management acquired a new stake in Old Dominion Freight Line during the 4th quarter worth $28,000. Evolution Wealth Management Inc. acquired a new stake in Old Dominion Freight Line during the 1st quarter worth $29,000. Finally, DT Investment Partners LLC grew its holdings in shares of Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after buying an additional 180 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $204.52 on Friday. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The firm has a market cap of $42.41 billion, a PE ratio of 39.41, a PEG ratio of 3.56 and a beta of 1.18. The firm’s 50 day moving average price is $220.99 and its 200-day moving average price is $210.48.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data 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. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. The ex-dividend date 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 currently 22.35%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup restated a “neutral” rating and set a $231.00 price target (up from $228.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $241.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research note on Monday, July 13th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Finally, Robert W. Baird set a $229.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company 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.