9,951 Shares in Old Dominion Freight Line, Inc. $ODFL Purchased by Johnson Financial Group Inc.

Johnson Financial Group Inc. bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,951 shares of the transportation company’s stock, valued at approximately $2,155,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ODFL. Brighton Jones LLC grew its stake in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after buying an additional 79 shares during the period. Empowered Funds LLC raised its position in shares of Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after buying an additional 5,866 shares during the period. Marshall Wace LLP acquired a new position in Old Dominion Freight Line in the second quarter valued at approximately $7,478,000. Jump Financial LLC acquired a new position in Old Dominion Freight Line in the second quarter valued at approximately $2,891,000. Finally, AXA S.A. grew its position in Old Dominion Freight Line by 1.2% in the second quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after acquiring an additional 238 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 1.4%

NASDAQ:ODFL opened at $205.08 on Thursday. The stock’s fifty day moving average is $221.86 and its two-hundred day moving average is $210.26. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03. The stock has a market capitalization of $42.53 billion, a price-to-earnings ratio of 39.51, a price-to-earnings-growth ratio of 3.61 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 earnings per share. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.35%.

Analyst Ratings Changes

Several research firms have issued reports on ODFL. Zacks Research raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $244.00 price target on shares of Old Dominion Freight Line in a research note on Wednesday, July 29th. Truist Financial raised their price objective on Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Stifel Nicolaus set a $263.00 price objective on shares of Old Dominion Freight Line and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Robert W. Baird set a $229.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Tuesday, April 28th. One equities research 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.