Norden Group LLC Acquires 25,096 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Norden Group LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 684.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 28,764 shares of the transportation company’s stock after purchasing an additional 25,096 shares during the period. Norden Group LLC’s holdings in Old Dominion Freight Line were worth $6,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ODFL. Fortitude Family Office LLC bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $27,000. Trust Co. of Vermont bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at $27,000. Farmers & Merchants Investments Inc. increased its stake in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in Old Dominion Freight Line during the 4th quarter worth $29,000. Finally, Headinvest LLC bought a new stake in Old Dominion Freight Line during the 3rd quarter worth $30,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 0.2 %

Shares of NASDAQ:ODFL opened at $181.87 on Friday. The business’s 50 day simple moving average is $177.17 and its two-hundred day simple moving average is $199.69. The firm has a market cap of $39.52 billion, a P/E ratio of 32.02, a PEG ratio of 2.37 and a beta of 1.00. 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 $165.49 and a 52-week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were issued a $0.26 dividend. 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 0.57%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ODFL. JPMorgan Chase & Co. reduced their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Barclays reduced 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 report on Wednesday, June 12th. Raymond James reduced their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Wells Fargo & Company started coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 price target on the stock. Finally, BMO Capital Markets started coverage on Old Dominion Freight Line in a research report on Wednesday, June 5th. They issued an “outperform” rating and a $210.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $201.18.

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.