Forsta AP Fonden Sells 2,700 Shares of Old Dominion Freight Line, Inc. $ODFL

Forsta AP Fonden cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,100 shares of the transportation company’s stock after selling 2,700 shares during the period. Forsta AP Fonden’s holdings in Old Dominion Freight Line were worth $5,817,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $37,000. Torren Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $50,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $55,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction on Monday, May 4th. The stock was 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 represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Up 1.5%

Shares of Old Dominion Freight Line stock opened at $228.53 on Tuesday. The stock’s fifty day moving average is $205.73 and its two-hundred day moving average is $182.95. The company has a market capitalization of $47.53 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 4.61 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $233.79.

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

Old Dominion Freight Line Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ODFL. Deutsche Bank Aktiengesellschaft cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price objective on the stock. in a report on Thursday, February 5th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Citigroup reaffirmed a “neutral” rating and set a $225.00 price objective (up from $218.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Jefferies Financial Group increased their price target on Old Dominion Freight Line from $210.00 to $230.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Finally, Wolfe Research increased their price target on Old Dominion Freight Line from $183.00 to $185.00 and gave the company an “underperform” rating in a report on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $206.29.

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.