Caxton Associates LLP Increases Stock Position in Old Dominion Freight Line, Inc. $ODFL

Caxton Associates LLP boosted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 85.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,303 shares of the transportation company’s stock after purchasing an additional 13,490 shares during the period. Caxton Associates LLP’s holdings in Old Dominion Freight Line were worth $4,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vest Financial LLC raised its stake in Old Dominion Freight Line by 66.8% during the second quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock worth $27,727,000 after acquiring an additional 68,410 shares during the period. Bridges Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 0.7% during the 2nd quarter. Bridges Investment Management Inc. now owns 688,961 shares of the transportation company’s stock worth $111,818,000 after purchasing an additional 4,849 shares during the period. Mariner Investment Group LLC bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $933,000. Vanguard Personalized Indexing Management LLC boosted its position in Old Dominion Freight Line by 12.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 31,959 shares of the transportation company’s stock valued at $5,195,000 after purchasing an additional 3,430 shares during the period. Finally, Profund Advisors LLC grew its stake in Old Dominion Freight Line by 14.6% during the 2nd quarter. Profund Advisors LLC now owns 18,057 shares of the transportation company’s stock worth $2,931,000 after buying an additional 2,296 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ODFL shares. The Goldman Sachs Group cut their target price on Old Dominion Freight Line from $186.00 to $181.00 in a research note on Thursday, October 30th. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $144.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Evercore ISI reduced their target price on shares of Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Finally, Stifel Nicolaus dropped their price target on shares of Old Dominion Freight Line from $168.00 to $162.00 and set a “buy” rating on the stock in a research note on Tuesday, October 28th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $154.48.

Old Dominion Freight Line Stock Performance

ODFL opened at $159.49 on Friday. The business has a 50 day moving average price of $139.81 and a two-hundred day moving average price of $149.58. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $33.35 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 4.16 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 22.54%.

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.