Old Dominion Freight Line, Inc. $ODFL Shares Bought by Sirios Capital Management L P

Sirios Capital Management L P boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,308 shares of the transportation company’s stock after purchasing an additional 11,989 shares during the quarter. Old Dominion Freight Line comprises 1.7% of Sirios Capital Management L P’s holdings, making the stock its 21st biggest position. Sirios Capital Management L P’s holdings in Old Dominion Freight Line were worth $11,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Old Dominion Freight Line in the second quarter worth approximately $371,961,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Old Dominion Freight Line by 79.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after acquiring an additional 1,151,221 shares during the last quarter. Nuveen LLC acquired a new position in Old Dominion Freight Line in the 1st quarter valued at approximately $151,107,000. JPMorgan Chase & Co. raised its position in Old Dominion Freight Line by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Old Dominion Freight Line by 63.8% in the 2nd quarter. First Trust Advisors LP now owns 1,521,054 shares of the transportation company’s stock valued at $246,867,000 after purchasing an additional 592,605 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Wolfe Research raised their target price on shares of Old Dominion Freight Line from $140.00 to $141.00 and gave the company an “underperform” rating in a research note on Monday. Jefferies Financial Group cut their price target on Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. BMO Capital Markets raised shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $172.00 to $170.00 in a report on Monday, December 1st. Finally, The Goldman Sachs Group cut their target price on Old Dominion Freight Line from $186.00 to $181.00 in a report on Thursday, October 30th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $157.48.

Old Dominion Freight Line Price Performance

ODFL stock opened at $148.89 on Wednesday. The firm has a market cap of $31.13 billion, a P/E ratio of 29.96, a P/E/G ratio of 3.96 and a beta of 1.27. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $209.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.20. The firm’s fifty day moving average is $138.72 and its 200 day moving average is $149.58.

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

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be given a $0.28 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 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.