Old Dominion Freight Line, Inc. (ODFL) Stake Boosted by Canal Capital Management LLC

Canal Capital Management LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 36.5% during the second quarter, according to its most recent 13F filing with the SEC. 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.

A number of other institutional investors have also recently made changes to their positions in ODFL. First Citizens Bank & Trust Co. purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at about $311,000. Fisher Asset Management LLC boosted its position in shares of Old Dominion Freight Line by 2.3% in the first quarter. Fisher Asset Management LLC now owns 5,877 shares of the transportation company’s stock valued at $503,000 after buying an additional 130 shares in the last quarter. Covenant Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at about $1,221,000. Dalton Greiner Hartman Maher & Co. boosted its position in Old Dominion Freight Line by 2.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 232,484 shares of the transportation company’s stock worth $19,894,000 after buying an additional 5,483 shares during the period. Finally, Cim LLC boosted its position in Old Dominion Freight Line by 4.8% in the first quarter. Cim LLC now owns 5,669 shares of the transportation company’s stock worth $485,000 after buying an additional 262 shares during the period. 75.07% of the stock is currently owned by institutional investors.

Old Dominion Freight Line, Inc. (ODFL) opened at 96.28 on Friday. The firm has a 50-day moving average of $96.79 and a 200-day moving average of $90.51. Old Dominion Freight Line, Inc. has a 12-month low of $66.33 and a 12-month high of $103.51. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 24.94 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The company had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. During the same quarter in the previous year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post $4.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. Old Dominion Freight Line’s dividend payout ratio is 10.39%.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://www.com-unik.info/2017/08/12/canal-capital-management-llc-has-386000-position-in-old-dominion-freight-line-inc-odfl-updated-updated-updated.html.

A number of research firms have recently weighed in on ODFL. BidaskClub cut shares of Old Dominion Freight Line from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Tuesday, July 11th. Credit Suisse Group reissued an “outperform” rating and issued a $109.00 price objective (up from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price objective for the company from $108.00 to $98.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $91.00 price objective on shares of Old Dominion Freight Line in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.67.

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)

What are top analysts saying about Old Dominion Freight Line Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Old Dominion Freight Line Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit