Canal Capital Management LLC Has $386,000 Position in Old Dominion Freight Line, Inc. (ODFL)

Canal Capital Management LLC increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 36.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,050 shares of the transportation company’s stock after buying an additional 1,082 shares during the period. Canal Capital Management LLC’s holdings in Old Dominion Freight Line were worth $386,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Old Dominion Freight Line by 11,389.2% in the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock worth $462,150,000 after buying an additional 5,353,843 shares during the period. Daiwa Securities Group Inc. increased its stake in Old Dominion Freight Line by 8,727.8% in the first quarter. Daiwa Securities Group Inc. now owns 158,900 shares of the transportation company’s stock valued at $13,597,000 after buying an additional 157,100 shares during the period. AQR Capital Management LLC increased its stake in Old Dominion Freight Line by 100.3% in the first quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock valued at $25,619,000 after buying an additional 149,951 shares during the period. Scopus Asset Management L.P. increased its stake in Old Dominion Freight Line by 37.6% in the first quarter. Scopus Asset Management L.P. now owns 480,392 shares of the transportation company’s stock valued at $41,107,000 after buying an additional 131,330 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Old Dominion Freight Line by 7.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,942,570 shares of the transportation company’s stock valued at $166,226,000 after buying an additional 130,065 shares during the period. 74.66% of the stock is currently owned by institutional investors.

Old Dominion Freight Line, Inc. (ODFL) traded down 0.62% during midday trading on Monday, reaching $99.37. 262,226 shares of the company’s stock traded hands. The stock has a market cap of $8.19 billion, a PE ratio of 27.28 and a beta of 1.08. Old Dominion Freight Line, Inc. has a one year low of $64.16 and a one year high of $100.61. The stock’s 50 day moving average price is $90.60 and its 200-day moving average price is $88.34.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, April 27th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The business had revenue of $754.10 million during 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 business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. Equities analysts predict that Old Dominion Freight Line, Inc. will post $3.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, June 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio is currently 10.99%.

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ODFL has been the topic of several recent research reports. Zacks Investment Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Tuesday, March 21st. Vertical Research reaffirmed a “hold” rating and set a $83.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, April 13th. Cowen and Company upped their price objective on shares of 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. Bank of America Corporation raised shares of Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $83.00 to $96.00 in a report on Tuesday, June 6th. Finally, BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Old Dominion Freight Line presently has an average rating of “Buy” and a consensus price target of $96.78.

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.

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

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