Swiss National Bank Acquires 169,921 Shares of Old Dominion Freight Line (NASDAQ:ODFL)

Swiss National Bank raised its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 84.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,764 shares of the transportation company’s stock after buying an additional 169,921 shares during the quarter. Swiss National Bank’s holdings in Old Dominion Freight Line were worth $48,798,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ballast Advisors LLC acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at $30,000. Cordasco Financial Network boosted its stake in shares of Old Dominion Freight Line by 49.7% in the 1st quarter. Cordasco Financial Network now owns 268 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Guardian Life Insurance Co. of America acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $36,000. Cohen & Steers Inc. boosted its stake in shares of Old Dominion Freight Line by 277.4% in the 4th quarter. Cohen & Steers Inc. now owns 200 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 147 shares in the last quarter. Finally, Truewealth LLC boosted its stake in shares of Old Dominion Freight Line by 49.7% in the 1st quarter. Truewealth LLC now owns 286 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 95 shares in the last quarter. 57.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ODFL opened at $155.91 on Friday. Old Dominion Freight Line has a 12-month low of $87.25 and a 12-month high of $159.90. The company has a market cap of $18.39 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 3.60 and a beta of 1.02. The firm’s 50-day simple moving average is $141.42 and its 200 day simple moving average is $180.06.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, April 23rd. The transportation company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.01). Old Dominion Freight Line had a net margin of 14.99% and a return on equity of 20.85%. The business had revenue of $987.36 million for the quarter, compared to analyst estimates of $982.15 million. During the same quarter in the previous year, the company posted $1.64 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts predict that Old Dominion Freight Line will post 4.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, June 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.38%. Old Dominion Freight Line’s payout ratio is presently 11.94%.

Several equities research analysts have recently commented on the stock. Stephens boosted their target price on shares of Old Dominion Freight Line from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Morgan Stanley boosted their target price on shares of Old Dominion Freight Line from $145.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Bank of America downgraded shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating in a research note on Sunday, April 19th. Cowen reduced their target price on shares of Old Dominion Freight Line from $205.00 to $138.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Finally, BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $131.00.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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