Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 37,946 shares of the transportation company’s stock after buying an additional 3,980 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Old Dominion Freight Line were worth $6,701,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in Old Dominion Freight Line in the 4th quarter valued at about $29,000. Neo Ivy Capital Management bought a new stake in Old Dominion Freight Line in the 4th quarter valued at about $40,000. Farmers & Merchants Investments Inc. lifted its position in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in Old Dominion Freight Line by 135.7% in the 4th quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 76 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ODFL. Susquehanna cut their price objective on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. Morgan Stanley cut their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. BMO Capital Markets boosted their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Bank of America boosted their price target on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $200.88.

Old Dominion Freight Line Trading Down 0.9 %

Shares of Old Dominion Freight Line stock traded down $1.67 during trading on Friday, hitting $190.45. The stock had a trading volume of 570,473 shares, compared to its average volume of 1,580,331. The stock has a 50 day simple moving average of $192.20 and a 200 day simple moving average of $198.49. The company has a market capitalization of $41.38 billion, a PE ratio of 33.65, a P/E/G ratio of 3.75 and a beta of 1.00. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $1.33 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.7 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.90% of the stock is owned by corporate insiders.

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.