Rockland Trust Co. Has $548,000 Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Rockland Trust Co. increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 96.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,498 shares of the transportation company’s stock after buying an additional 1,227 shares during the quarter. Rockland Trust Co.’s holdings in Old Dominion Freight Line were worth $548,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $29,000. Headinvest LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 0.1 %

Shares of NASDAQ ODFL opened at $174.89 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. Old Dominion Freight Line, Inc. has a 52 week low of $162.77 and a 52 week high of $227.80. The stock has a market capitalization of $38.00 billion, a P/E ratio of 30.79, a PEG ratio of 2.27 and a beta of 1.02. The stock’s fifty day moving average is $182.99 and its 200 day moving average is $200.51.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.98 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ODFL shares. Bank of America dropped their price target on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a research note on Thursday, June 6th. BMO Capital Markets started coverage on Old Dominion Freight Line in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price target on the stock. UBS Group increased their price target on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Barclays dropped their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th. Finally, Susquehanna dropped their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $204.97.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.