Paragon Advisors LLC Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Paragon Advisors LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,151 shares of the transportation company’s stock after buying an additional 219 shares during the quarter. Paragon Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American National Bank & Trust purchased a new position in Old Dominion Freight Line during the 1st quarter worth $30,000. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the 4th quarter worth $35,000. Itau Unibanco Holding S.A. grew its stake in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 192 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Old Dominion Freight Line during the 4th quarter worth about $51,000. Finally, CoreCap Advisors LLC lifted its position in Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock worth $60,000 after acquiring an additional 168 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $162.21 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $144.90 and a twelve month high of $233.26. The business has a 50-day moving average price of $158.63 and a 200 day moving average price of $177.26. The firm has a market cap of $34.28 billion, a PE ratio of 29.60, a P/E/G ratio of 2.89 and a beta of 1.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business earned $1.34 EPS. Old Dominion Freight Line’s revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. Old Dominion Freight Line’s dividend payout ratio is presently 21.01%.

Analyst Ratings Changes

A number of analysts have commented on ODFL shares. Barclays lowered their price target on Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company set a $150.00 price target on Old Dominion Freight Line and gave the stock an “underweight” rating in a research report on Thursday, April 24th. Evercore ISI lowered their price target on Old Dominion Freight Line from $164.00 to $156.00 and set an “in-line” rating for the company in a research report on Thursday, April 24th. Bank of America lifted their price target on Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Susquehanna lowered their price target on Old Dominion Freight Line from $171.00 to $168.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $180.42.

About Old Dominion Freight Line

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