Foundations Investment Advisors LLC Acquires 54 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Foundations Investment Advisors LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,124 shares of the transportation company’s stock after buying an additional 54 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Farmers & Merchants Investments Inc. grew its stake in 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 buying an additional 62 shares during the last quarter. Atwood & Palmer Inc. raised its holdings in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares during the period. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $29,000. Finally, Fortitude Family Office LLC lifted its position in Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 4.9 %

NASDAQ ODFL opened at $186.06 on Friday. The business has a fifty day moving average price of $193.92 and a two-hundred day moving average price of $197.74. The stock has a market capitalization of $40.43 billion, a PE ratio of 32.76, a PEG ratio of 3.76 and a beta of 1.00. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 EPS. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research reports. Susquehanna decreased their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. Raymond James increased their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their target price on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Barclays decreased their price target on shares of 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, JPMorgan Chase & Co. raised their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $201.33.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line 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.