Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 275.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,040 shares of the transportation company’s stock after buying an additional 44,800 shares during the quarter. Erste Asset Management GmbH’s holdings in Old Dominion Freight Line were worth $9,573,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. DT Investment Partners LLC raised its holdings in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after purchasing an additional 180 shares during the last quarter. Torren Management LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line during the third quarter worth $37,000. Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line during the fourth quarter worth $50,000. Finally, State of Wyoming acquired a new position in Old Dominion Freight Line during the fourth quarter worth $57,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ODFL has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Wednesday, April 22nd. 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. Rothschild & Co Redburn reduced their price objective on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, UBS Group lifted their price objective on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $209.88.

Old Dominion Freight Line Stock Up 1.8%

NASDAQ ODFL opened at $247.01 on Tuesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $250.69. The stock has a market cap of $51.37 billion, a price-to-earnings ratio of 51.68, a price-to-earnings-growth ratio of 4.92 and a beta of 1.17. The business has a fifty day moving average of $211.06 and a 200-day moving average of $186.70.

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 for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.37 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

Insider Buying and Selling at Old Dominion Freight Line

In other 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 transaction, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.00% of the stock is currently 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.