Twin Capital Management Inc. purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,530 shares of the transportation company’s stock, valued at approximately $690,000.
Several other large investors also recently bought and sold shares of ODFL. Brighton Jones LLC increased its position in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares during the last quarter. Empowered Funds LLC boosted its holdings in Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after acquiring an additional 5,866 shares during the period. Marshall Wace LLP purchased a new position in shares of Old Dominion Freight Line in the second quarter valued at approximately $7,478,000. Jump Financial LLC acquired a new position in shares of Old Dominion Freight Line in the second quarter worth $2,891,000. Finally, AXA S.A. grew its stake in Old Dominion Freight Line by 1.2% during the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after purchasing an additional 238 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.
Old Dominion Freight Line Trading Up 5.3%
Shares of ODFL opened at $237.15 on Friday. The firm has a market capitalization of $49.32 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 4.07 and a beta of 1.18. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The stock’s fifty day simple moving average is $221.07 and its 200 day simple moving average is $201.95.
Old Dominion Freight Line Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 24.27%.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. TD Cowen reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Stephens reissued an “overweight” rating and issued a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Finally, UBS Group increased their target price on Old Dominion Freight Line from $216.00 to $224.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Ten investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $222.00.
Get Our Latest Analysis on ODFL
Insider Activity
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 stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.
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.
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