Allstate Corp Has $2 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Allstate Corp boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 89.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,776 shares of the transportation company’s stock after purchasing an additional 6,019 shares during the quarter. Allstate Corp’s holdings in Old Dominion Freight Line were worth $2,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Old Dominion Freight Line by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after buying an additional 494,674 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after buying an additional 776,004 shares during the last quarter. JPMorgan Chase & Co. raised its position in Old Dominion Freight Line by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after buying an additional 622,275 shares during the last quarter. Boston Partners acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $292,599,000. Finally, Lazard Asset Management LLC raised its position in Old Dominion Freight Line by 6.2% in the 3rd quarter. Lazard Asset Management LLC now owns 2,054,044 shares of the transportation company’s stock valued at $289,168,000 after buying an additional 120,564 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Rothschild & Co Redburn dropped their target price on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a research report on Tuesday, May 12th. Wolfe Research lifted their target price on Old Dominion Freight Line from $183.00 to $185.00 and gave the company an “underperform” rating in a research report on Tuesday, April 7th. The Goldman Sachs Group set a $216.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price target on Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Robert W. Baird set a $229.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $206.29.

Old Dominion Freight Line Trading Up 0.6%

ODFL stock opened at $220.86 on Friday. The firm has a market capitalization of $45.93 billion, a PE ratio of 46.21, a PEG ratio of 4.49 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $233.79. The business’s 50 day simple moving average is $203.96 and its 200 day simple moving average is $181.71.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 EPS. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s payout ratio is 24.27%.

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.00% of the stock is owned by company insiders.

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.