Worthington Financial Partners LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,821 shares of the transportation company’s stock, valued at approximately $599,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new position in Old Dominion Freight Line during the fourth quarter valued at about $28,000. DT Investment Partners LLC raised its position in Old Dominion Freight Line by 600.0% in the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after acquiring an additional 180 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Old Dominion Freight Line in the third quarter worth about $37,000. DV Equities LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $40,000. Finally, Torren Management LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $41,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently commented on ODFL. Argus increased their target price on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. UBS Group upped their price target on Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Wells Fargo & Company set a $235.00 price objective on Old Dominion Freight Line and gave the company an “equal weight” rating in a research report on Friday, June 5th. Finally, Morgan Stanley set a $235.00 price objective on Old Dominion Freight Line and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $217.30.
Insider Activity at Old Dominion Freight Line
In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the transaction, the director owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.00% of the company’s stock.
Old Dominion Freight Line Stock Performance
Shares of NASDAQ ODFL opened at $221.04 on Friday. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $252.03. The firm has a market capitalization of $45.97 billion, a PE ratio of 46.24, a PEG ratio of 4.44 and a beta of 1.17. The business has a 50-day moving average price of $217.66 and a two-hundred day moving average price of $192.73.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.
Old Dominion Freight Line Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line’s payout ratio is presently 24.27%.
Old Dominion Freight Line 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.
Featured Articles
- Five stocks we like better than Old Dominion Freight Line
- MarketBeat Week in Review – 06/15 – 06/19
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report).
Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.
