Meadow Creek Investment Management LLC boosted its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 23.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,712 shares of the transportation company’s stock after buying an additional 7,514 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Old Dominion Freight Line were worth $5,927,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 656,280 shares of the transportation company’s stock worth $81,044,000 after buying an additional 6,885 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Old Dominion Freight Line by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 685,323 shares of the transportation company’s stock valued at $84,580,000 after acquiring an additional 3,291 shares during the period. Crossmark Global Holdings Inc. boosted its position in Old Dominion Freight Line by 6.7% in the first quarter. Crossmark Global Holdings Inc. now owns 6,243 shares of the transportation company’s stock worth $901,000 after purchasing an additional 390 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Old Dominion Freight Line by 4.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 74,512 shares of the transportation company’s stock worth $10,759,000 after purchasing an additional 3,050 shares during the last quarter. Finally, South Dakota Investment Council bought a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at about $667,000. 71.58% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ODFL traded up $1.85 during mid-day trading on Wednesday, reaching $174.25. 10,792 shares of the company traded hands, compared to its average volume of 510,755. The company’s 50 day moving average price is $164.22 and its 200-day moving average price is $151.23. The firm has a market cap of $13.76 billion, a PE ratio of 23.50, a PEG ratio of 2.40 and a beta of 1.50. Old Dominion Freight Line has a 52 week low of $115.00 and a 52 week high of $172.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.92.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, July 25th. The transportation company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. Old Dominion Freight Line had a net margin of 15.48% and a return on equity of 23.57%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $1.99 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, research analysts predict that Old Dominion Freight Line will post 7.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a $0.17 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.39%. Old Dominion Freight Line’s payout ratio is currently 9.21%.

Old Dominion Freight Line announced that its board has approved a share buyback plan on Thursday, May 16th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several equities research analysts have recently commented on the stock. ValuEngine raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Tuesday. Credit Suisse Group boosted their target price on shares of Old Dominion Freight Line from $152.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. KeyCorp boosted their target price on shares of Old Dominion Freight Line from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America reaffirmed a “neutral” rating and set a $150.00 target price (up from $144.00) on shares of Old Dominion Freight Line in a report on Thursday, June 20th. Finally, BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $152.08.

In related news, SVP Gregory B. Plemmons sold 1,249 shares of Old Dominion Freight Line stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $163.39, for a total transaction of $204,074.11. Following the transaction, the senior vice president now owns 5,714 shares in the company, valued at approximately $933,610.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Earl E. Congdon sold 56,400 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $166.53, for a total transaction of $9,392,292.00. Following the transaction, the chairman now owns 10,854 shares in the company, valued at approximately $1,807,516.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,799 shares of company stock valued at $14,586,493. Corporate insiders own 11.90% of the company’s stock.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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

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