Gulf International Bank UK Ltd Takes $2.58 Million Position in Old Dominion Freight Line (NASDAQ:ODFL)

Gulf International Bank UK Ltd acquired a new position in Old Dominion Freight Line (NASDAQ:ODFL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,625 shares of the transportation company’s stock, valued at approximately $2,581,000.

A number of other large investors have also added to or reduced their stakes in ODFL. Riverhead Capital Management LLC raised its position in Old Dominion Freight Line by 44.6% in the second quarter. Riverhead Capital Management LLC now owns 6,765 shares of the transportation company’s stock worth $644,000 after acquiring an additional 2,085 shares in the last quarter. Nationwide Fund Advisors grew its holdings in Old Dominion Freight Line by 1.5% in the second quarter. Nationwide Fund Advisors now owns 147,592 shares of the transportation company’s stock valued at $14,057,000 after purchasing an additional 2,221 shares during the last quarter. Amalgamated Bank grew its holdings in Old Dominion Freight Line by 14.4% in the second quarter. Amalgamated Bank now owns 12,380 shares of the transportation company’s stock valued at $1,179,000 after purchasing an additional 1,560 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Old Dominion Freight Line in the second quarter valued at $788,000. Finally, PNC Financial Services Group Inc. grew its holdings in Old Dominion Freight Line by 0.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock valued at $534,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Old Dominion Freight Line (NASDAQ ODFL) traded down $1.57 on Friday, hitting $130.14. The company had a trading volume of 1,589,765 shares, compared to its average volume of 670,855. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $11,698.21, a price-to-earnings ratio of 32.05 and a beta of 1.22. Old Dominion Freight Line has a fifty-two week low of $80.56 and a fifty-two week high of $150.31.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, February 8th. The transportation company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $891.12 million for the quarter, compared to analyst estimates of $879.00 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. research analysts forecast that Old Dominion Freight Line will post 4.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.40%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.10. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 9.85%.

Several research firms have weighed in on ODFL. Buckingham Research upped their target price on Old Dominion Freight Line from $144.00 to $153.00 and gave the company a “neutral” rating in a report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $117.00 target price (up previously from $111.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 13th. Seaport Global Securities reissued a “buy” rating on shares of Old Dominion Freight Line in a report on Tuesday, December 5th. Cowen reissued a “market perform” rating and issued a $136.00 target price (up previously from $113.00) on shares of Old Dominion Freight Line in a report on Thursday. Finally, Citigroup upped their target price on Old Dominion Freight Line from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $122.08.

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Old Dominion Freight Line Profile

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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