HighTower Advisors LLC Purchases 159 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

HighTower Advisors LLC boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,846 shares of the transportation company’s stock after buying an additional 159 shares during the period. HighTower Advisors LLC’s holdings in Old Dominion Freight Line were worth $671,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in shares of Old Dominion Freight Line by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,500 shares of the transportation company’s stock valued at $1,497,000 after buying an additional 400 shares during the period. Bank of Montreal Can raised its stake in Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock valued at $3,469,000 after buying an additional 36,224 shares during the last quarter. Private Advisor Group LLC bought a new stake in Old Dominion Freight Line during the first quarter valued at $166,000. Comerica Bank raised its stake in Old Dominion Freight Line by 4.3% in the first quarter. Comerica Bank now owns 54,771 shares of the transportation company’s stock valued at $4,941,000 after buying an additional 2,253 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Old Dominion Freight Line by 19.1% in the first quarter. Pacer Advisors Inc. now owns 10,941 shares of the transportation company’s stock valued at $936,000 after buying an additional 1,754 shares during the last quarter. 74.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of Old Dominion Freight Line, Inc. (ODFL) opened at 97.58 on Wednesday. Old Dominion Freight Line, Inc. has a 1-year low of $60.53 and a 1-year high of $98.37. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 26.79 and a beta of 1.08. The firm has a 50-day moving average price of $90.60 and a 200-day moving average price of $88.34.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, April 27th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The firm had revenue of $754.10 million for the quarter, compared to the consensus estimate of $751.84 million. Old Dominion Freight Line had a return on equity of 16.52% and a net margin of 9.92%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Equities analysts forecast that Old Dominion Freight Line, Inc. will post $3.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Tuesday, June 6th were issued a $0.10 dividend. The ex-dividend date was Friday, June 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.41%. Old Dominion Freight Line’s dividend payout ratio is presently 10.99%.

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Several analysts recently weighed in on ODFL shares. Zacks Investment Research lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Wednesday, March 15th. Vertical Research restated a “hold” rating and set a $83.00 price target on shares of Old Dominion Freight Line in a report on Thursday, April 13th. Cowen and Company increased their price target on Old Dominion Freight Line from $88.00 to $92.00 and gave the company a “market perform” rating in a report on Thursday, April 27th. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Finally, Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and increased their price target for the company from $83.00 to $96.00 in a report on Tuesday, June 6th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $95.88.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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