Swiss National Bank Boosts Stock Holdings in Old Dominion Freight Line (NASDAQ:ODFL)

Swiss National Bank boosted its stake in shares of Old Dominion Freight Line (NASDAQ:ODFL) by 84.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 371,764 shares of the transportation company’s stock after purchasing an additional 169,921 shares during the period. Swiss National Bank owned approximately 0.32% of Old Dominion Freight Line worth $48,798,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Capital Research Global Investors raised its stake in Old Dominion Freight Line by 1.5% during the fourth quarter. Capital Research Global Investors now owns 7,293,994 shares of the transportation company’s stock worth $1,384,254,000 after purchasing an additional 105,003 shares during the period. BlackRock Inc. raised its stake in Old Dominion Freight Line by 53.6% during the first quarter. BlackRock Inc. now owns 6,550,218 shares of the transportation company’s stock worth $859,784,000 after purchasing an additional 2,284,461 shares during the period. State Street Corp raised its stake in Old Dominion Freight Line by 22.6% during the fourth quarter. State Street Corp now owns 2,685,768 shares of the transportation company’s stock worth $509,705,000 after purchasing an additional 495,064 shares during the period. Alpha Omega Wealth Management LLC raised its stake in Old Dominion Freight Line by 48.8% during the first quarter. Alpha Omega Wealth Management LLC now owns 1,824,519 shares of the transportation company’s stock worth $239,486,000 after purchasing an additional 598,185 shares during the period. Finally, Geode Capital Management LLC raised its stake in Old Dominion Freight Line by 49.2% during the fourth quarter. Geode Capital Management LLC now owns 1,040,257 shares of the transportation company’s stock worth $197,038,000 after purchasing an additional 343,022 shares during the period. 57.39% of the stock is currently owned by institutional investors.

Old Dominion Freight Line stock opened at $155.91 on Friday. The firm’s 50 day simple moving average is $141.42 and its 200-day simple moving average is $180.06. The company has a market cap of $18.39 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02. Old Dominion Freight Line has a fifty-two week low of $87.25 and a fifty-two week high of $159.90.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 23rd. The transportation company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.01). The firm had revenue of $987.36 million during the quarter, compared to analysts’ expectations of $982.15 million. Old Dominion Freight Line had a return on equity of 20.85% and a net margin of 14.99%. The business’s revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $1.64 earnings per share. As a group, research analysts predict that Old Dominion Freight Line will post 4.57 earnings per share for the current fiscal year.

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

Several equities research analysts have recently issued reports on ODFL shares. Bank of America lowered shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating in a research report on Sunday, April 19th. Morgan Stanley increased their price objective on shares of Old Dominion Freight Line from $145.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Cowen dropped their price objective on shares of Old Dominion Freight Line from $205.00 to $138.00 and set a “market perform” rating for the company in a research report on Friday, April 24th. Stephens increased their price objective on shares of Old Dominion Freight Line from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Finally, Credit Suisse Group increased their price objective on shares of Old Dominion Freight Line from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $131.00.

About Old Dominion Freight Line

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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