Nykredit A S acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 84,100 shares of the transportation company’s stock, valued at approximately $18,216,000.
A number of other large investors have also recently made changes to their positions in the business. Bogart Wealth LLC raised its holdings in shares of Old Dominion Freight Line by 9.9% during the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 46 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Old Dominion Freight Line by 1.3% in the first quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock valued at $814,000 after acquiring an additional 55 shares in the last quarter. Keybank National Association OH boosted its holdings in Old Dominion Freight Line by 2.3% in the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after acquiring an additional 56 shares in the last quarter. Deseret Mutual Benefit Administrators increased its position in Old Dominion Freight Line by 9.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 57 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the period. 77.82% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This trade represents a 46.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by company insiders.
Old Dominion Freight Line Price Performance
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last announced its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $1.27 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.
Old Dominion Freight Line Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is presently 22.35%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Wall Street Zen cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Susquehanna increased their price target on shares of Old Dominion Freight Line from $224.00 to $228.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Wells Fargo & Company upgraded shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $235.00 to $250.00 in a report on Wednesday, July 8th. Finally, TD Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $226.55.
View Our Latest Stock Analysis on Old Dominion Freight Line
About Old Dominion Freight Line
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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