Town & Country Bank & Trust CO dba First Bankers Trust CO Purchases Shares of 6,565 Old Dominion Freight Line, Inc. $ODFL

Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,565 shares of the transportation company’s stock, valued at approximately $1,029,000.

Several other institutional investors have also recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after buying an additional 98 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $55,000. Finally, Zions Bancorporation National Association UT grew its holdings in shares of Old Dominion Freight Line by 273.5% in the third quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ODFL. Bank of America set a $165.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, December 18th. JPMorgan Chase & Co. upped their target price on shares of Old Dominion Freight Line from $168.00 to $182.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a report on Thursday, February 12th. TD Cowen boosted their price objective on Old Dominion Freight Line from $167.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Finally, Robert W. Baird downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $166.00 to $204.00 in a research report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $191.13.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares of the company’s stock, valued at $2,190,977.06. The trade was a 21.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the sale, the chairman directly owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. This trade represents a 6.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,134 shares of company stock worth $15,640,132 over the last quarter. Company insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $198.00 on Friday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $221.63. The firm has a 50-day simple moving average of $191.79 and a two-hundred day simple moving average of $163.41. The company has a market cap of $41.27 billion, a P/E ratio of 40.99, a PEG ratio of 4.18 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were given a $0.29 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is currently 24.02%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.