Contravisory Investment Management Inc. Buys 1,147 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Contravisory Investment Management Inc. lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 99.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,302 shares of the transportation company’s stock after acquiring an additional 1,147 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Old Dominion Freight Line were worth $505,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. boosted its stake in Old Dominion Freight Line by 51.5% during the 1st quarter. Salem Investment Counselors Inc. now owns 200 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 68 shares during the period. International Assets Investment Management LLC boosted its stake in Old Dominion Freight Line by 97.6% during the 1st quarter. International Assets Investment Management LLC now owns 3,438 shares of the transportation company’s stock valued at $750,000 after purchasing an additional 1,698 shares during the period. Douglas Lane & Associates LLC boosted its stake in Old Dominion Freight Line by 85.4% during the 1st quarter. Douglas Lane & Associates LLC now owns 964 shares of the transportation company’s stock valued at $211,000 after purchasing an additional 444 shares during the period. Central Bank & Trust Co. boosted its stake in Old Dominion Freight Line by 97.7% during the 1st quarter. Central Bank & Trust Co. now owns 32,338 shares of the transportation company’s stock valued at $7,092,000 after purchasing an additional 15,977 shares during the period. Finally, Congress Asset Management Co. MA boosted its stake in Old Dominion Freight Line by 98.2% during the 1st quarter. Congress Asset Management Co. MA now owns 424,665 shares of the transportation company’s stock valued at $93,133,000 after purchasing an additional 210,354 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.1 %

ODFL stock opened at $174.89 on Monday. The company has a market cap of $38.00 billion, a P/E ratio of 30.79, a PEG ratio of 2.27 and a beta of 1.02. Old Dominion Freight Line, Inc. has a twelve month low of $162.77 and a twelve month high of $227.80. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $182.99 and a 200-day moving average of $200.61.

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

Old Dominion Freight Line Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on ODFL shares. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Bank of America decreased their price objective on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating on the stock in a report on Thursday, June 6th. Susquehanna decreased their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, TD Cowen decreased their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $204.97.

Old Dominion Freight Line Company Profile

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.