GSA Capital Partners LLP Makes New $790,000 Investment in Old Dominion Freight Line, Inc. $ODFL

GSA Capital Partners LLP purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,646 shares of the transportation company’s stock, valued at approximately $790,000.

Several other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $444,983,000. Boston Partners bought a new position in Old Dominion Freight Line in the third quarter valued at approximately $292,599,000. Price T Rowe Associates Inc. MD lifted its stake in Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after buying an additional 1,761,511 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Old Dominion Freight Line by 637.5% in the third quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock valued at $221,935,000 after buying an additional 1,362,697 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $188,651,000. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ODFL. Citigroup reaffirmed a “neutral” rating and issued a $231.00 price objective (up from $228.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. UBS Group reissued a “neutral” rating and issued a $228.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. The Goldman Sachs Group restated a “buy” rating and issued a $244.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $208.00 on Wednesday. The firm has a 50-day moving average of $222.47 and a 200-day moving average of $210.03. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The company has a market cap of $43.13 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 3.67 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the business earned $1.27 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 22.35%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.