Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 97.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,222 shares of the transportation company’s stock after acquiring an additional 12,443 shares during the quarter. Ritholtz Wealth Management’s holdings in Old Dominion Freight Line were worth $3,551,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth about $26,000. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line during the second quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after buying an additional 123 shares during the last quarter. Chilton Capital Management LLC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at $47,000. Finally, Blue Trust Inc. raised its stake in Old Dominion Freight Line by 65.5% during the 2nd quarter. Blue Trust Inc. now owns 412 shares of the transportation company’s stock worth $67,000 after acquiring an additional 163 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ODFL. Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Friday, January 9th. Zacks Research downgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Bank of America increased their price objective on Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Susquehanna reiterated a “neutral” rating and set a $170.00 target price on shares of Old Dominion Freight Line in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $162.71.

Old Dominion Freight Line Stock Performance

ODFL opened at $175.65 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61. The stock has a market cap of $36.73 billion, a P/E ratio of 35.34, a P/E/G ratio of 8.86 and a beta of 1.27. The stock’s 50 day simple moving average is $152.13 and its 200 day simple moving average is $150.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20.

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

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

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.