Metropolitan Life Insurance Co. NY Boosts Position in Old Dominion Freight Line (NASDAQ:ODFL)

Metropolitan Life Insurance Co. NY raised its position in Old Dominion Freight Line (NASDAQ:ODFL) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,030 shares of the transportation company’s stock after purchasing an additional 1,763 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Old Dominion Freight Line were worth $3,431,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ODFL. State of Alaska Department of Revenue lifted its holdings in shares of Old Dominion Freight Line by 50.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,000 shares of the transportation company’s stock worth $1,191,000 after acquiring an additional 2,680 shares during the last quarter. Scout Investments Inc. lifted its holdings in shares of Old Dominion Freight Line by 3.8% during the 2nd quarter. Scout Investments Inc. now owns 107,486 shares of the transportation company’s stock worth $16,011,000 after acquiring an additional 3,938 shares during the last quarter. Carillon Tower Advisers Inc. lifted its holdings in shares of Old Dominion Freight Line by 35.0% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 328,396 shares of the transportation company’s stock worth $48,917,000 after acquiring an additional 85,156 shares during the last quarter. Torch Wealth Management LLC bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $1,504,000. Finally, Raymond James & Associates lifted its holdings in shares of Old Dominion Freight Line by 2.7% during the 2nd quarter. Raymond James & Associates now owns 91,025 shares of the transportation company’s stock worth $13,559,000 after acquiring an additional 2,374 shares during the last quarter. 72.45% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on ODFL shares. Bank of America lifted their price objective on shares of Old Dominion Freight Line from $139.00 to $143.00 and gave the stock an “underperform” rating in a report on Thursday, August 30th. BidaskClub downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Buckingham Research lifted their target price on shares of Old Dominion Freight Line from $155.00 to $162.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Stifel Nicolaus reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Friday, July 27th. Finally, KeyCorp lifted their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, July 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $147.38.

ODFL stock opened at $150.75 on Tuesday. Old Dominion Freight Line has a 12-month low of $106.20 and a 12-month high of $170.22. The stock has a market capitalization of $13.22 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 0.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.17. Old Dominion Freight Line had a net margin of 15.37% and a return on equity of 20.31%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.19 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, equities analysts predict that Old Dominion Freight Line will post 6.94 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, September 6th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Wednesday, September 5th. Old Dominion Freight Line’s payout ratio is 11.93%.

Old Dominion Freight Line Company 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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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

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