Eventide Asset Management LLC Acquires 22,343 Shares of Old Dominion Freight Line, Inc. $ODFL

Eventide Asset Management LLC boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 598,831 shares of the transportation company’s stock after buying an additional 22,343 shares during the quarter. Old Dominion Freight Line makes up approximately 1.7% of Eventide Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Eventide Asset Management LLC owned about 0.28% of Old Dominion Freight Line worth $97,208,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Financial Gravity Companies Inc. purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at $26,000. Rossby Financial LCC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $28,000. Chilton Capital Management LLC bought a new stake in Old Dominion Freight Line during the second quarter valued at about $47,000. WPG Advisers LLC purchased a new position in Old Dominion Freight Line in the first quarter valued at about $51,000. Finally, Flaharty Asset Management LLC purchased a new position in Old Dominion Freight Line in the first quarter valued at about $59,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $159.49 on Friday. The firm has a market capitalization of $33.35 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 4.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61. The company’s fifty day moving average price is $139.81 and its 200-day moving average price is $149.69.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business posted $1.43 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Old Dominion Freight Line’s payout ratio is 22.54%.

Analysts Set New Price Targets

ODFL has been the subject of several analyst reports. Rothschild & Co Redburn started coverage on shares of Old Dominion Freight Line in a research report on Wednesday, November 26th. They set a “sell” rating and a $114.00 price target for the company. Jefferies Financial Group reduced their price objective on shares of Old Dominion Freight Line from $160.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, October 9th. Raymond James Financial restated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of Old Dominion Freight Line in a research note on Thursday, October 30th. Wolfe Research lifted their price target on shares of Old Dominion Freight Line from $140.00 to $141.00 and gave the stock an “underperform” rating in a report on Monday, December 8th. Finally, Susquehanna upped their price target on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $154.48.

Old Dominion Freight Line Profile

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.