Zurcher Kantonalbank Zurich Cantonalbank increased its position in Old Dominion Freight Line (NASDAQ:ODFL) by 59.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,014 shares of the transportation company’s stock after purchasing an additional 6,372 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Old Dominion Freight Line were worth $2,233,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Guardian Life Insurance Co. of America acquired a new position in Old Dominion Freight Line during the fourth quarter worth $36,000. Cohen & Steers Inc. raised its stake in Old Dominion Freight Line by 277.4% during the fourth quarter. Cohen & Steers Inc. now owns 200 shares of the transportation company’s stock worth $38,000 after acquiring an additional 147 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in Old Dominion Freight Line by 450.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 209 shares of the transportation company’s stock worth $40,000 after acquiring an additional 171 shares in the last quarter. Ballast Advisors LLC acquired a new position in Old Dominion Freight Line during the first quarter worth $30,000. Finally, Cordasco Financial Network raised its stake in Old Dominion Freight Line by 49.7% during the first quarter. Cordasco Financial Network now owns 268 shares of the transportation company’s stock worth $35,000 after acquiring an additional 89 shares in the last quarter. 57.39% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the company. Stephens increased their price objective on Old Dominion Freight Line from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Credit Suisse Group raised their target price on Old Dominion Freight Line from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Stifel Nicolaus upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and raised their target price for the company from $102.00 to $103.33 in a research note on Friday, March 20th. Morgan Stanley raised their target price on Old Dominion Freight Line from $145.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $131.00.

Old Dominion Freight Line stock opened at $155.91 on Friday. The business’s 50-day simple moving average is $141.42 and its 200 day simple moving average is $180.06. The stock has a market cap of $18.39 billion, a price-to-earnings ratio of 30.47, a P/E/G ratio of 3.60 and a beta of 1.02. Old Dominion Freight Line has a 12-month low of $87.25 and a 12-month high of $159.90.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, April 23rd. The transportation company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.01). The firm had revenue of $987.36 million during the quarter, compared to the consensus estimate of $982.15 million. Old Dominion Freight Line had a net margin of 14.99% and a return on equity of 20.85%. Old Dominion Freight Line’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 EPS. Research analysts predict that Old Dominion Freight Line will post 4.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, June 2nd. Old Dominion Freight Line’s dividend payout ratio is 11.94%.

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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