Brown Advisory Inc. Boosts Holdings in Old Dominion Freight Line, Inc. $ODFL

Brown Advisory Inc. raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 28.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 486,366 shares of the transportation company’s stock after acquiring an additional 106,287 shares during the quarter. Brown Advisory Inc.’s holdings in Old Dominion Freight Line were worth $76,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ODFL. Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares in the last quarter. Empowered Funds LLC raised its stake in Old Dominion Freight Line by 134.9% during the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after purchasing an additional 5,866 shares during the period. Marshall Wace LLP purchased a new position in Old Dominion Freight Line during the second quarter worth about $7,478,000. Jump Financial LLC purchased a new position in Old Dominion Freight Line during the second quarter worth about $2,891,000. Finally, AXA S.A. raised its stake in Old Dominion Freight Line by 1.2% during the second quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after purchasing an additional 238 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $245.75 on Monday. The company has a market capitalization of $51.11 billion, a PE ratio of 51.41, a P/E/G ratio of 4.97 and a beta of 1.17. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The firm has a 50 day simple moving average of $215.16 and a 200-day simple moving average of $189.93.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping 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 net margin of 18.46% and a return on equity of 23.42%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. As a group, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given 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 dividend payout ratio is 24.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ODFL shares. Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Susquehanna lifted their price target on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Morgan Stanley set a $235.00 price target on shares of Old Dominion Freight Line and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wolfe Research lifted their price target on shares of 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. Finally, The Goldman Sachs Group set a $216.00 price objective on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a report on Thursday, April 30th. Eight equities research 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 data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $215.43.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction on Monday, May 4th. The shares were 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 owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is currently owned by company insiders.

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.