Laurion Capital Management LP Invests $2.16 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Laurion Capital Management LP acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,497 shares of the transportation company’s stock, valued at approximately $2,157,000.

Several other large investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of Old Dominion Freight Line by 12.9% during the first quarter. Mercer Global Advisors Inc. ADV now owns 4,084 shares of the transportation company’s stock worth $982,000 after purchasing an additional 468 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Old Dominion Freight Line by 51.8% during the first quarter. Sei Investments Co. now owns 49,772 shares of the transportation company’s stock worth $11,289,000 after purchasing an additional 16,986 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Old Dominion Freight Line by 29.5% during the first quarter. Quadrant Capital Group LLC now owns 684 shares of the transportation company’s stock worth $164,000 after purchasing an additional 156 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Old Dominion Freight Line by 5.6% during the first quarter. Moors & Cabot Inc. now owns 1,197 shares of the transportation company’s stock worth $287,000 after purchasing an additional 64 shares during the last quarter. Finally, Cresset Asset Management LLC raised its holdings in shares of Old Dominion Freight Line by 8.1% during the first quarter. Cresset Asset Management LLC now owns 2,592 shares of the transportation company’s stock worth $624,000 after purchasing an additional 194 shares during the last quarter. Institutional investors and hedge funds own 70.11% of the company’s stock.

ODFL has been the subject of several recent research reports. Credit Suisse Group raised their target price on shares of Old Dominion Freight Line from $265.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, July 29th. KeyCorp raised their target price on shares of Old Dominion Freight Line from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, September 2nd. Citigroup lifted their price objective on shares of Old Dominion Freight Line from $280.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, October 7th. Wolfe Research cut shares of Old Dominion Freight Line from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 15th. Finally, Raymond James lifted their price objective on shares of Old Dominion Freight Line from $280.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, September 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $262.11.

Shares of ODFL stock traded up $4.92 on Thursday, reaching $289.69. 3,848 shares of the company were exchanged, compared to its average volume of 634,849. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 1.52 and a beta of 0.99. The business has a 50-day moving average price of $288.38 and a 200 day moving average price of $267.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.72 and a current ratio of 2.72. Old Dominion Freight Line, Inc. has a 1 year low of $185.20 and a 1 year high of $304.22.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 28th. The transportation company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.14. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Old Dominion Freight Line had a net margin of 18.80% and a return on equity of 26.30%. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 8.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 31st. This represents a $0.80 dividend on an annualized basis and a yield of 0.28%. Old Dominion Freight Line’s payout ratio is presently 14.08%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm involves in the ground and air expedited transportation and consumer household pickup and delivery. Its services include container drayage, truckload brokerage, supply chain consulting and warehousing. The company was founded by Earl Congdon Sr.

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

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