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

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 66.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Old Dominion Freight Line during the 4th quarter worth about $27,000. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $29,000. Headinvest LLC acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $34,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ODFL. Susquehanna dropped their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, June 12th. Raymond James dropped their price objective on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. TD Cowen dropped their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an “underweight” rating and a $175.00 target price for the company. Finally, Baird R W raised Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $201.18.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock traded up $2.23 during trading on Friday, hitting $176.60. The stock had a trading volume of 3,118,740 shares, compared to its average volume of 1,731,722. The firm has a market cap of $38.37 billion, a price-to-earnings 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 12 month low of $165.49 and a 12 month high of $227.80. The business’s 50-day moving average is $179.13 and its 200 day moving average is $200.02. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

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.