21,289 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by Harber Asset Management LLC

Harber Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, HoldingsChannel reports. The fund purchased 21,289 shares of the transportation company’s stock, valued at approximately $4,611,000. Old Dominion Freight Line accounts for approximately 2.8% of Harber Asset Management LLC’s portfolio, making the stock its 15th largest holding.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at about $3,416,007,000. Price T Rowe Associates Inc. MD raised its stake in shares of 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 acquiring an additional 1,761,511 shares during the period. State Street Corp lifted its stake in Old Dominion Freight Line by 0.9% in the fourth quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock worth $1,214,618,000 after purchasing an additional 70,736 shares during the last quarter. Boston Partners lifted its stake in shares of Old Dominion Freight Line by 98.4% during the 4th quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock worth $648,186,000 after acquiring an additional 2,044,434 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Old Dominion Freight Line by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock valued at $577,137,000 after purchasing an additional 365,424 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 1.0%

Shares of ODFL stock opened at $206.47 on Friday. The business’s fifty day simple moving average is $220.21 and its 200-day simple moving average is $210.45. The company has a market cap of $42.81 billion, a PE ratio of 39.78, a PEG ratio of 3.55 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, topping 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 firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the firm earned $1.27 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company raised Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $250.00 in a research note on Wednesday, July 8th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Stifel Nicolaus set a $263.00 price target on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $227.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $226.55.

About Old Dominion Freight Line

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.