Northwestern Mutual Wealth Management Co. Purchases New Position in Old Dominion Freight Line, Inc. $ODFL

Northwestern Mutual Wealth Management Co. acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,407 shares of the transportation company’s stock, valued at approximately $954,000.

A number of other hedge funds have also bought and sold shares of the business. Bell Investment Advisors Inc purchased a new position in shares of Old Dominion Freight Line in the second quarter valued at $25,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Evolution Wealth Management Inc. purchased a new stake in Old Dominion Freight Line during the 1st quarter worth about $29,000. Reflection Asset Management bought a new position in Old Dominion Freight Line in the 4th quarter worth about $28,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Old Dominion Freight Line in the 1st quarter worth about $39,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Susquehanna upped their price target on Old Dominion Freight Line from $224.00 to $228.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Jefferies Financial Group restated a “hold” rating and issued a $227.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $226.55.

Old Dominion Freight Line Stock Down 1.6%

NASDAQ:ODFL opened at $198.34 on Wednesday. The business’s 50-day moving average price is $218.82 and its two-hundred day moving average price is $210.64. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The stock has a market cap of $41.13 billion, a P/E ratio of 38.22, a PEG ratio of 3.50 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly 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. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the company posted $1.27 EPS. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is presently 22.35%.

Old Dominion Freight Line 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.