Pier Capital LLC Has $863,000 Position in Old Dominion Freight Line, Inc. (ODFL)

Pier Capital LLC lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 26.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,835 shares of the transportation company’s stock after buying an additional 1,624 shares during the quarter. Pier Capital LLC’s holdings in Old Dominion Freight Line were worth $863,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Aperio Group LLC lifted its holdings in shares of Old Dominion Freight Line by 0.7% during the second quarter. Aperio Group LLC now owns 23,868 shares of the transportation company’s stock worth $2,273,000 after buying an additional 157 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Old Dominion Freight Line by 229.7% during the second quarter. Russell Investments Group Ltd. now owns 167,617 shares of the transportation company’s stock worth $15,965,000 after buying an additional 116,777 shares in the last quarter. Strs Ohio acquired a new stake in shares of Old Dominion Freight Line during the second quarter worth $2,381,000. Janney Montgomery Scott LLC acquired a new stake in shares of Old Dominion Freight Line during the second quarter worth $975,000. Finally, World Asset Management Inc lifted its holdings in shares of Old Dominion Freight Line by 4.6% during the second quarter. World Asset Management Inc now owns 4,853 shares of the transportation company’s stock worth $462,000 after buying an additional 212 shares in the last quarter. 72.45% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line, Inc. (NASDAQ ODFL) opened at $127.30 on Wednesday. The company has a market capitalization of $10,522.70, a PE ratio of 31.46, a P/E/G ratio of 1.87 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 52 week low of $80.56 and a 52 week high of $130.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.44 and a quick ratio of 1.44.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, October 26th. The transportation company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. The business had revenue of $872.99 million during the quarter, compared to the consensus estimate of $855.85 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. Old Dominion Freight Line’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. equities analysts expect that Old Dominion Freight Line, Inc. will post 4.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.31%. The ex-dividend date is Tuesday, December 5th. Old Dominion Freight Line’s payout ratio is 9.85%.

ODFL has been the subject of a number of research reports. Citigroup lifted their target price on Old Dominion Freight Line from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. KeyCorp lifted their target price on Old Dominion Freight Line from $125.00 to $138.00 and gave the stock an “overweight” rating in a report on Tuesday. Buckingham Research lifted their target price on Old Dominion Freight Line from $105.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $111.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, October 26th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $119.00 price target (up previously from $110.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $110.23.

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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.

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

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