Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Raised by Creative Planning

Creative Planning increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 15.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,760 shares of the transportation company’s stock after buying an additional 508 shares during the period. Creative Planning’s holdings in Old Dominion Freight Line were worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Advisors LLC boosted its position in shares of Old Dominion Freight Line by 40.9% in the fourth quarter. Teachers Advisors LLC now owns 84,079 shares of the transportation company’s stock valued at $7,213,000 after buying an additional 24,415 shares in the last quarter. Bank of Montreal Can boosted its position in shares of 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 in the last quarter. Capstone Asset Management Co. boosted its position in shares of Old Dominion Freight Line by 2.1% in the first quarter. Capstone Asset Management Co. now owns 7,313 shares of the transportation company’s stock valued at $626,000 after buying an additional 150 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Old Dominion Freight Line during the first quarter valued at $286,000. Finally, Atria Investments LLC boosted its position in shares of Old Dominion Freight Line by 2.6% in the first quarter. Atria Investments LLC now owns 2,772 shares of the transportation company’s stock valued at $237,000 after buying an additional 69 shares in the last quarter. Institutional investors own 75.07% of the company’s stock.

Shares of Old Dominion Freight Line, Inc. (NASDAQ ODFL) traded down 0.67% during mid-day trading on Friday, hitting $94.79. The company had a trading volume of 323,471 shares. The firm has a market capitalization of $7.81 billion, a P/E ratio of 24.55 and a beta of 1.08. Old Dominion Freight Line, Inc. has a 12 month low of $66.33 and a 12 month high of $103.51. The firm has a 50-day moving average price of $97.19 and a 200 day moving average price of $90.74.

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

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

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A number of research firms have recently commented on ODFL. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $83.00 to $96.00 in a research report on Tuesday, June 6th. Stifel Nicolaus restated a “hold” rating and issued a $91.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, July 14th. Zacks Investment Research cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Cowen and Company boosted their price objective on Old Dominion Freight Line from $88.00 to $92.00 and gave the company a “market perform” rating in a research report on Thursday, April 27th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $97.67.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the transaction, the insider now owns 9,516 shares of the company’s stock, valued at $930,950.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.00% of the company’s stock.

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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