Castleark Management LLC bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 95,730 shares of the transportation company’s stock, valued at approximately $15,010,000.
A number of other institutional investors also recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators boosted its stake in Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after purchasing an additional 57 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Old Dominion Freight Line by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after purchasing an additional 60 shares in the last quarter. Diversified Trust Co. boosted its stake in Old Dominion Freight Line by 1.7% in the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after purchasing an additional 65 shares in the last quarter. CNB Bank boosted its stake in Old Dominion Freight Line by 2.3% in the 4th quarter. CNB Bank now owns 3,127 shares of the transportation company’s stock worth $490,000 after purchasing an additional 71 shares in the last quarter. Finally, Modera Wealth Management LLC boosted its stake in Old Dominion Freight Line by 2.7% in the 4th quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock worth $434,000 after purchasing an additional 72 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
ODFL has been the subject of a number of recent analyst reports. Morgan Stanley set a $235.00 target price on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Citigroup restated a “neutral” rating and set a $225.00 price objective (up from $218.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Tuesday, April 14th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. Finally, Rothschild & Co Redburn decreased their price objective on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $215.43.
Old Dominion Freight Line Price Performance
ODFL opened at $245.75 on Friday. The firm has a fifty day moving average price of $215.16 and a 200 day moving average price of $189.53. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The stock has a market cap of $51.11 billion, a P/E ratio of 51.41, a P/E/G ratio of 5.02 and a beta of 1.17.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current year.
Old Dominion Freight Line Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is presently 24.27%.
Insider Buying and Selling
In related news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.00% of the company’s stock.
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.
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