Mesirow Financial Investment Management Equity Management increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,570 shares of the transportation company’s stock after buying an additional 3,335 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Old Dominion Freight Line were worth $1,483,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted 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 worth $462,150,000 after buying an additional 5,353,843 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Old Dominion Freight Line by 8,727.8% in the first quarter. Daiwa Securities Group Inc. now owns 158,900 shares of the transportation company’s stock worth $13,597,000 after buying an additional 157,100 shares during the period. AQR Capital Management LLC boosted its stake in shares of Old Dominion Freight Line by 100.3% in the first quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock worth $25,619,000 after buying an additional 149,951 shares during the period. Scopus Asset Management L.P. boosted its stake in shares of Old Dominion Freight Line by 37.6% in the first quarter. Scopus Asset Management L.P. now owns 480,392 shares of the transportation company’s stock worth $41,107,000 after buying an additional 131,330 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted 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 worth $166,226,000 after buying an additional 130,065 shares during the period. 75.07% of the stock is owned by institutional investors.

Old Dominion Freight Line, Inc. (ODFL) opened at 97.06 on Thursday. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 25.14 and a beta of 1.08. The company has a 50 day moving average price of $96.56 and a 200 day moving average price of $90.41. Old Dominion Freight Line, Inc. has a 12 month low of $66.33 and a 12 month high of $103.51.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million during 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 firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Analysts anticipate that Old Dominion Freight Line, Inc. will post $4.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. Old Dominion Freight Line’s payout ratio is currently 10.39%.

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ODFL has been the subject of a number of recent analyst reports. BidaskClub raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Vertical Research reaffirmed a “hold” rating and issued a $83.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, April 13th. Cowen and Company upped their price target on Old Dominion Freight Line from $88.00 to $92.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Finally, Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and upped their price target for the company from $83.00 to $96.00 in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $97.67.

Old Dominion Freight Line Company Profile

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.

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

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