Signaturefd LLC raised its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 2,308.6% during the 2nd quarter, Holdings Channel reports. The firm owned 843 shares of the transportation company’s stock after acquiring an additional 808 shares during the period. Signaturefd LLC’s holdings in Old Dominion Freight Line were worth $126,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $1,140,000. Morgan Stanley boosted its holdings in shares of Old Dominion Freight Line by 107.1% in the second quarter. Morgan Stanley now owns 473,609 shares of the transportation company’s stock valued at $70,549,000 after acquiring an additional 244,948 shares during the period. Natixis boosted its holdings in shares of Old Dominion Freight Line by 35.7% in the second quarter. Natixis now owns 3,278 shares of the transportation company’s stock valued at $488,000 after acquiring an additional 862 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Old Dominion Freight Line by 4.1% in the second quarter. Voya Investment Management LLC now owns 20,733 shares of the transportation company’s stock valued at $3,088,000 after acquiring an additional 825 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $1,922,000. Institutional investors own 72.37% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a report on Thursday, May 24th. ValuEngine downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Morgan Stanley increased their price target on Old Dominion Freight Line from $154.00 to $158.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Cowen increased their price target on Old Dominion Freight Line from $145.00 to $156.00 and gave the stock a “market perform” rating in a report on Friday, July 27th. Finally, KeyCorp increased their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, July 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $147.38.

Shares of NASDAQ ODFL opened at $165.89 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77. Old Dominion Freight Line has a 1-year low of $99.50 and a 1-year high of $170.22. The firm has a market cap of $13.66 billion, a P/E ratio of 38.05, a P/E/G ratio of 0.95 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.17. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Old Dominion Freight Line had a return on equity of 20.31% and a net margin of 15.37%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the company earned $1.19 earnings per share. sell-side analysts predict that Old Dominion Freight Line will post 6.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, September 6th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Wednesday, September 5th. Old Dominion Freight Line’s payout ratio is 11.93%.

Old Dominion Freight Line Company 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.

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

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