Principal Financial Group Inc. raised its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,881 shares of the transportation company’s stock after purchasing an additional 7,576 shares during the period. Principal Financial Group Inc. owned about 0.37% of Old Dominion Freight Line worth $44,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Asset Management One Co. Ltd. raised its position in Old Dominion Freight Line by 6.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 92,584 shares of the transportation company’s stock valued at $13,607,000 after purchasing an additional 5,593 shares in the last quarter. Claraphi Advisory Network LLC acquired a new stake in shares of Old Dominion Freight Line during the 1st quarter worth about $213,000. Pitcairn Co. raised its position in shares of Old Dominion Freight Line by 56.6% during the 1st quarter. Pitcairn Co. now owns 4,863 shares of the transportation company’s stock worth $715,000 after acquiring an additional 1,758 shares in the last quarter. C M Bidwell & Associates Ltd. raised its position in shares of Old Dominion Freight Line by 48.0% during the 1st quarter. C M Bidwell & Associates Ltd. now owns 8,058 shares of the transportation company’s stock worth $1,184,000 after acquiring an additional 2,615 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Old Dominion Freight Line by 2.6% during the 1st quarter. Stifel Financial Corp now owns 49,564 shares of the transportation company’s stock worth $7,294,000 after acquiring an additional 1,266 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on ODFL. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research report on Thursday, May 24th. Argus began coverage on Old Dominion Freight Line in a research report on Wednesday, May 23rd. They set a “buy” rating and a $175.00 target price on the stock. BidaskClub raised Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. ValuEngine raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Cowen reissued a “market perform” rating and set a $145.00 target price (up previously from $136.00) on shares of Old Dominion Freight Line in a research report on Monday, April 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $142.00.

Old Dominion Freight Line opened at $163.21 on Wednesday, Marketbeat Ratings reports. The company has a market cap of $13.29 billion, a P/E ratio of 37.43, a PEG ratio of 1.08 and a beta of 1.21. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 52-week low of $90.62 and a 52-week high of $164.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, April 26th. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. The firm had revenue of $925.02 million for the quarter, compared to the consensus estimate of $925.83 million. Old Dominion Freight Line had a return on equity of 18.47% and a net margin of 14.38%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 EPS. research analysts expect that Old Dominion Freight Line will post 6.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Wednesday, June 6th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 5th. This represents a $0.52 dividend on an annualized basis and a yield of 0.32%. Old Dominion Freight Line’s dividend payout ratio is presently 11.93%.

Old Dominion Freight Line declared that its board has initiated a share repurchase program on Thursday, May 17th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the transportation company to buy up to 2.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In related news, Director Leo H. Suggs sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $148.44, for a total transaction of $118,752.00. Following the transaction, the director now owns 5,679 shares in the company, valued at approximately $842,990.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.00% of the company’s stock.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line (NASDAQ:ODFL).

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

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.