Palisade Capital Management LLC NJ Has $31.98 Million Holdings in Old Dominion Freight Line (ODFL)

Palisade Capital Management LLC NJ reduced its stake in Old Dominion Freight Line (NASDAQ:ODFL) by 14.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 217,565 shares of the transportation company’s stock after selling 36,044 shares during the quarter. Old Dominion Freight Line makes up approximately 1.1% of Palisade Capital Management LLC NJ’s investment portfolio, making the stock its 12th largest position. Palisade Capital Management LLC NJ owned about 0.26% of Old Dominion Freight Line worth $31,976,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $132,000. Captrust Financial Advisors purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $138,000. Telemus Capital LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $207,000. Stephens Inc. AR purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $209,000. Finally, Reliant Investment Management LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $216,000. Institutional investors own 74.57% of the company’s stock.

Several brokerages have issued reports on ODFL. BidaskClub upgraded Old Dominion Freight Line from a “buy” rating to a “strong-buy” rating in a report on Friday, May 11th. ValuEngine upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Cowen reiterated a “market perform” rating and set a $145.00 price target (up from $136.00) on shares of Old Dominion Freight Line in a report on Monday, April 30th. Zacks Investment Research cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. Finally, Robert W. Baird reiterated a “hold” rating and set a $145.00 price target on shares of Old Dominion Freight Line in a report on Tuesday, April 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $138.75.

NASDAQ ODFL opened at $147.26 on Monday. The firm has a market cap of $12.10 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.78 and a quick ratio of 1.78. Old Dominion Freight Line has a twelve month low of $84.87 and a twelve month high of $152.50.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 26th. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. Old Dominion Freight Line had a return on equity of 18.47% and a net margin of 14.38%. The company had revenue of $925.02 million during the quarter, compared to analysts’ expectations of $925.83 million. During the same period last year, the business posted $0.80 EPS. Old Dominion Freight Line’s revenue for the quarter was up 22.7% on a year-over-year basis. equities analysts expect that Old Dominion Freight Line will post 6.39 earnings per share for the current year.

Old Dominion Freight Line declared that its Board of Directors has approved a share repurchase plan on Thursday, May 17th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the transportation company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Wednesday, June 6th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Tuesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) 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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