Harvest Fund Management Co. Ltd Has $107,000 Stock Holdings in Old Dominion Freight Line (NASDAQ:ODFL)

Harvest Fund Management Co. Ltd lifted its holdings in Old Dominion Freight Line (NASDAQ:ODFL) by 610.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 817 shares of the transportation company’s stock after buying an additional 702 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Old Dominion Freight Line were worth $107,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Swiss National Bank raised its holdings in shares of Old Dominion Freight Line by 84.2% during the first quarter. Swiss National Bank now owns 371,764 shares of the transportation company’s stock worth $48,798,000 after acquiring an additional 169,921 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Old Dominion Freight Line by 61.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,507 shares of the transportation company’s stock worth $854,000 after acquiring an additional 2,474 shares in the last quarter. First Allied Advisory Services Inc. raised its holdings in shares of Old Dominion Freight Line by 41.7% during the first quarter. First Allied Advisory Services Inc. now owns 1,828 shares of the transportation company’s stock worth $240,000 after acquiring an additional 538 shares in the last quarter. Mackay Shields LLC raised its holdings in shares of Old Dominion Freight Line by 52.3% during the first quarter. Mackay Shields LLC now owns 14,739 shares of the transportation company’s stock worth $1,934,000 after acquiring an additional 5,063 shares in the last quarter. Finally, Wasatch Advisors Inc. raised its holdings in shares of Old Dominion Freight Line by 8.2% during the first quarter. Wasatch Advisors Inc. now owns 498,887 shares of the transportation company’s stock worth $65,484,000 after acquiring an additional 37,979 shares in the last quarter. 57.39% of the stock is owned by institutional investors and hedge funds.

ODFL has been the subject of several recent research reports. KeyCorp increased their price objective on Old Dominion Freight Line from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley increased their price objective on Old Dominion Freight Line from $145.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Stephens increased their price objective on Old Dominion Freight Line from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Citigroup cut their target price on Old Dominion Freight Line from $132.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Finally, BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a 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 company. Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $131.00.

Shares of NASDAQ:ODFL opened at $155.91 on Friday. The company has a market cap of $18.39 billion, a P/E ratio of 30.47, a P/E/G ratio of 3.60 and a beta of 1.02. The stock’s 50-day moving average is $141.42 and its 200-day moving average is $180.06. Old Dominion Freight Line has a 52-week low of $87.25 and a 52-week high of $159.90.

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

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

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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

Further Reading: What is the Book Value of a Share?

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

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