Aster Capital Management DIFC Ltd Has $199,000 Stock Position in Old Dominion Freight Line, Inc. $ODFL

Aster Capital Management DIFC Ltd lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 94.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,417 shares of the transportation company’s stock after selling 22,308 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Old Dominion Freight Line were worth $199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Old Dominion Freight Line by 5.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396,862 shares of the transportation company’s stock valued at $55,870,000 after purchasing an additional 20,585 shares during the period. K.J. Harrison & Partners Inc bought a new stake in shares of Old Dominion Freight Line during the third quarter worth approximately $1,010,000. TD Asset Management Inc lifted its holdings in Old Dominion Freight Line by 14.7% in the third quarter. TD Asset Management Inc now owns 819,704 shares of the transportation company’s stock valued at $115,398,000 after buying an additional 105,135 shares during the period. Mufg Securities Americas Inc. boosted its stake in Old Dominion Freight Line by 21.0% in the third quarter. Mufg Securities Americas Inc. now owns 4,988 shares of the transportation company’s stock valued at $702,000 after acquiring an additional 867 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth $880,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating on shares of Old Dominion Freight Line in a research note on Thursday, February 19th. Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. UBS Group restated a “neutral” rating and set a $202.00 target price (up from $164.00) on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Bank of America set a $165.00 price target on Old Dominion Freight Line in a research note on Thursday, December 18th. Finally, Truist Financial set a $225.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $189.88.

Insider Activity

In related news, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the sale, the director owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the completion of the sale, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,134 shares of company stock worth $15,640,132 over the last three months. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $203.05 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $208.74. The company’s 50 day moving average price is $179.12 and its two-hundred day moving average price is $156.11. The company has a market capitalization of $42.32 billion, a P/E ratio of 42.04, a price-to-earnings-growth ratio of 10.13 and a beta of 1.28.

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

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio (DPR) is 23.19%.

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.