Harvest Fund Management Co. Ltd Buys 702 Shares of Old Dominion Freight Line (NASDAQ:ODFL)

Harvest Fund Management Co. Ltd increased its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 610.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 817 shares of the transportation company’s stock after acquiring an additional 702 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Old Dominion Freight Line were worth $107,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Squar Milner Financial Services LLC raised its position in shares of Old Dominion Freight Line by 255.4% during the 4th quarter. Squar Milner Financial Services LLC now owns 995 shares of the transportation company’s stock valued at $188,000 after acquiring an additional 715 shares during the last quarter. Capital Investment Counsel Inc bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $210,000. California Public Employees Retirement System raised its position in shares of Old Dominion Freight Line by 4.6% during the 4th quarter. California Public Employees Retirement System now owns 155,434 shares of the transportation company’s stock valued at $29,498,000 after acquiring an additional 6,795 shares during the last quarter. Advisor Partners LLC raised its position in shares of Old Dominion Freight Line by 5.8% during the 4th quarter. Advisor Partners LLC now owns 2,278 shares of the transportation company’s stock valued at $469,000 after acquiring an additional 125 shares during the last quarter. Finally, Covenant Asset Management LLC raised its position in shares of Old Dominion Freight Line by 2.2% during the 4th quarter. Covenant Asset Management LLC now owns 15,226 shares of the transportation company’s stock valued at $2,890,000 after acquiring an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 57.39% of the company’s stock.

Shares of NASDAQ ODFL opened at $155.91 on Friday. The firm has a market cap of $18.39 billion, a PE ratio of 30.47, a PEG ratio of 3.60 and a beta of 1.02. Old Dominion Freight Line has a 1-year low of $87.25 and a 1-year high of $159.90. The company has a fifty day moving average price of $141.42 and a 200 day moving average price of $180.06.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 23rd. The transportation company reported $1.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.01). The company had revenue of $987.36 million during the quarter, compared to analyst estimates of $982.15 million. Old Dominion Freight Line had a return on equity of 20.85% and a net margin of 14.99%. Old Dominion Freight Line’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. Analysts expect that Old Dominion Freight Line will post 4.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.60 annualized dividend and a yield of 0.38%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 11.94%.

Several brokerages have commented on ODFL. KeyCorp upped their target price on shares of Old Dominion Freight Line from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Friday. Deutsche Bank upped their target price on shares of Old Dominion Freight Line from $125.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Credit Suisse Group boosted their price target on shares of Old Dominion Freight Line from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Citigroup decreased their price target on shares of Old Dominion Freight Line from $132.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Finally, BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $131.00.

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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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

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