Hennion & Walsh Asset Management Inc. Has $6.56 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Hennion & Walsh Asset Management Inc. raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 66.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,891 shares of the transportation company’s stock after buying an additional 11,970 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $6,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. Price T Rowe Associates Inc. MD grew its holdings in shares of Old Dominion Freight Line by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after purchasing an additional 81,122 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Old Dominion Freight Line by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after purchasing an additional 251,289 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Old Dominion Freight Line by 0.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock worth $851,971,000 after purchasing an additional 12,016 shares in the last quarter. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $495,387,000. Finally, Morgan Stanley grew its holdings in shares of Old Dominion Freight Line by 7.7% during the 3rd quarter. Morgan Stanley now owns 961,518 shares of the transportation company’s stock worth $393,397,000 after purchasing an additional 68,960 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 1.3 %

Shares of ODFL stock traded up $2.23 on Friday, reaching $176.60. 3,118,740 shares of the stock were exchanged, compared to its average volume of 1,731,722. The stock has a market cap of $38.37 billion, a PE ratio of 31.09, a P/E/G ratio of 2.27 and a beta of 1.02. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The stock has a 50 day moving average price of $179.13 and a 200 day moving average price of $200.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Ratings Changes

Several research firms recently commented on ODFL. TD Cowen cut their target price on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. UBS Group raised their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Evercore ISI restated an “in-line” rating and set a $196.00 target price (down previously from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, BMO Capital Markets began coverage on Old Dominion Freight Line in a research report on Wednesday, June 5th. They set an “outperform” rating and a $210.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $201.18.

Old Dominion Freight Line Company 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.