Tower Research Capital LLC TRC boosted its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 163.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,803 shares of the transportation company’s stock after acquiring an additional 2,978 shares during the period. Tower Research Capital LLC TRC’s holdings in Old Dominion Freight Line were worth $775,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $120,000. Financial Architects Inc acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at about $120,000. Signaturefd LLC increased its position in Old Dominion Freight Line by 2,308.6% in the 2nd quarter. Signaturefd LLC now owns 843 shares of the transportation company’s stock valued at $126,000 after acquiring an additional 808 shares during the period. Gradient Investments LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $137,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $142,000. Hedge funds and other institutional investors own 72.55% of the company’s stock.
A number of equities research analysts have weighed in on the company. ValuEngine lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Friday, October 12th. BidaskClub raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Deutsche Bank raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $131.00 price objective on the stock in a report on Wednesday, October 24th. They noted that the move was a valuation call. Argus lowered their price objective on Old Dominion Freight Line from $175.00 to $145.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Finally, Credit Suisse Group lowered their price objective on Old Dominion Freight Line from $159.00 to $149.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $146.25.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Thursday, October 25th. The transportation company reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.06 billion. Old Dominion Freight Line had a return on equity of 22.13% and a net margin of 16.47%. Analysts expect that Old Dominion Freight Line will post 7.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, December 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 11.93%.
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Old Dominion Freight Line Company Profile
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.
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