Palisade Capital Management LLC NJ boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,245 shares of the transportation company’s stock after buying an additional 5,401 shares during the period. Old Dominion Freight Line makes up approximately 0.9% of Palisade Capital Management LLC NJ’s portfolio, making the stock its 20th largest position. Palisade Capital Management LLC NJ owned approximately 0.31% of Old Dominion Freight Line worth $24,119,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ODFL. BlackRock Inc. raised its stake in shares of Old Dominion Freight Line by 11,389.2% in the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after buying an additional 5,353,843 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Old Dominion Freight Line by 1.0% in the first quarter. Janus Capital Management LLC now owns 2,789,817 shares of the transportation company’s stock valued at $238,725,000 after buying an additional 27,397 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 7.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,942,570 shares of the transportation company’s stock valued at $166,226,000 after buying an additional 130,065 shares in the last quarter. State Street Corp raised its stake in shares of Old Dominion Freight Line by 1.5% in the first quarter. State Street Corp now owns 1,829,413 shares of the transportation company’s stock valued at $156,542,000 after buying an additional 26,670 shares in the last quarter. Finally, SPF Beheer BV raised its stake in shares of Old Dominion Freight Line by 2.1% in the second quarter. SPF Beheer BV now owns 772,544 shares of the transportation company’s stock valued at $73,577,000 after buying an additional 15,748 shares in the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

Shares of Old Dominion Freight Line, Inc. (NASDAQ ODFL) opened at 96.22 on Monday. The stock’s 50 day moving average price is $96.30 and its 200-day moving average price is $90.08. Old Dominion Freight Line, Inc. has a 1-year low of $66.33 and a 1-year high of $103.51. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 24.92 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The firm had revenue of $839.90 million for the quarter, compared to the consensus estimate of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post $4.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

TRADEMARK VIOLATION WARNING: “Palisade Capital Management LLC NJ Increases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/08/07/palisade-capital-management-llc-nj-increases-stake-in-old-dominion-freight-line-inc-nasdaqodfl.html.

ODFL has been the subject of several research reports. Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $83.00 to $96.00 in a research note on Tuesday, June 6th. Zacks Investment Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. BidaskClub lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Friday. Cowen and Company upped their target price on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research note on Thursday, April 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $91.00 target price on shares of Old Dominion Freight Line in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $97.67.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

Receive News & Ratings for Old Dominion Freight Line Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line Inc. and related companies with MarketBeat.com's FREE daily email newsletter.