Fifth Third Wealth Advisors LLC Invests $271,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fifth Third Wealth Advisors LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,534 shares of the transportation company’s stock, valued at approximately $271,000.

Several other institutional investors have also added to or reduced their stakes in ODFL. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares in the last quarter. Capital Research Global Investors increased its stake in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded down $1.05 during mid-day trading on Thursday, reaching $201.85. 96,615 shares of the company’s stock were exchanged, compared to its average volume of 1,605,230. 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 quick ratio of 1.46 and a current ratio of 1.46. The business’s fifty day simple moving average is $188.80 and its two-hundred day simple moving average is $199.07. The firm has a market capitalization of $43.86 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00.

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

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ODFL shares. Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a report on Friday, June 7th. They set an “underweight” rating and a $175.00 target price on the stock. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, July 25th. Barclays cut their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. BMO Capital Markets boosted their target price on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Robert W. Baird upped their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $200.88.

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.