RK Capital Management LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 49.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,500 shares of the transportation company’s stock after purchasing an additional 30,700 shares during the period. Old Dominion Freight Line comprises about 1.8% of RK Capital Management LLC’s investment portfolio, making the stock its 29th largest position. RK Capital Management LLC owned about 0.11% of Old Dominion Freight Line worth $8,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Old Dominion Freight Line by 11,389.2% during the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after purchasing an additional 5,353,843 shares during the period. Janus Capital Management LLC increased its position in shares of Old Dominion Freight Line by 1.0% during 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 purchasing an additional 27,397 shares during the period. William Blair Investment Management LLC increased its position in shares of Old Dominion Freight Line by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after purchasing an additional 191,911 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Old Dominion Freight Line by 8.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock valued at $199,998,000 after purchasing an additional 157,362 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 8.5% during the second quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock valued at $183,182,000 after purchasing an additional 151,407 shares during the period. Institutional investors and hedge funds own 73.93% of the company’s stock.

Shares of Old Dominion Freight Line, Inc. (ODFL) traded up 0.35% during mid-day trading on Friday, reaching $100.33. The company’s stock had a trading volume of 706,310 shares. Old Dominion Freight Line, Inc. has a 52-week low of $66.33 and a 52-week high of $103.51. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 25.99 and a beta of 1.07. The firm has a 50 day moving average price of $97.52 and a 200 day moving average price of $91.84.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The firm had revenue of $839.90 million for the quarter, compared to analyst estimates of $824.68 million. During the same quarter last year, the company earned $0.98 EPS. The company’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post $4.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.10 per share. 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 0.40%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 10.39%.

ODFL has been the topic of a number of research reports. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Tuesday, July 11th. Deutsche Bank AG cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price objective for the company from $108.00 to $98.00 in a research report on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and set a $91.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, July 14th. Finally, Cowen and Company restated a “hold” rating and set a $100.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $99.20.

In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the transaction, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 12.00% of the stock is owned by company insiders.

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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)

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