ING Groep NV Acquires Shares of 14,525 Old Dominion Freight Line, Inc. $ODFL

ING Groep NV bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 14,525 shares of the transportation company’s stock, valued at approximately $2,045,000.

A number of other institutional investors have also recently modified their holdings of the business. Financial Gravity Companies Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares during the period. Westside Investment Management Inc. increased its position in shares of Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. Rossby Financial LCC acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $28,000. Finally, Chilton Capital Management LLC acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $47,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $193.21 on Friday. The firm has a 50 day simple moving average of $171.16 and a 200-day simple moving average of $152.69. The stock has a market cap of $40.40 billion, a price-to-earnings ratio of 40.00, a price-to-earnings-growth ratio of 9.26 and a beta of 1.28. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 earnings per share. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio is 24.02%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ODFL shares. Stephens reissued an “overweight” rating and issued a $232.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Wells Fargo & Company boosted their price target on shares of Old Dominion Freight Line from $138.00 to $165.00 and gave the stock an “underweight” rating in a research report on Thursday, February 5th. Stifel Nicolaus set a $217.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Argus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Thursday. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $189.88.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.