Focus Partners Advisor Solutions LLC Invests $738,000 in Old Dominion Freight Line, Inc. $ODFL

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,388 shares of the transportation company’s stock, valued at approximately $738,000.

A number of other hedge funds have also recently made changes to their positions in ODFL. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Reflection Asset Management bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $28,000. Evolution Wealth Management Inc. bought a new stake in Old Dominion Freight Line in the first quarter valued at $29,000. DT Investment Partners LLC increased its position in shares of Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after buying an additional 180 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Old Dominion Freight Line during the 1st quarter worth approximately $39,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Up 0.5%

Shares of ODFL stock opened at $211.96 on Tuesday. The stock has a market capitalization of $43.95 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 3.67 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03. The stock’s 50-day moving average price is $223.29 and its 200-day moving average price is $209.78.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company earned $1.27 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.35%.

Analyst Ratings Changes

ODFL has been the topic of a number of recent research reports. Weiss Ratings raised shares of Old Dominion Freight Line from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Evercore restated an “outperform” rating and issued a $243.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Stephens restated an “overweight” rating and set a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $244.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Finally, Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $226.55.

About Old Dominion Freight Line

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.