BI Asset Management Fondsmaeglerselskab A S Buys 4,386 Shares of Old Dominion Freight Line, Inc. $ODFL

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 58.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 11,892 shares of the transportation company’s stock after buying an additional 4,386 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Old Dominion Freight Line were worth $2,324,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ODFL. Deseret Mutual Benefit Administrators lifted its holdings in Old Dominion Freight Line by 9.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after buying an additional 57 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after acquiring an additional 60 shares during the period. Diversified Trust Co. grew its holdings in shares of Old Dominion Freight Line by 1.7% during the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after acquiring an additional 65 shares during the period. CNB Bank raised its position in shares of Old Dominion Freight Line by 2.3% in the 4th quarter. CNB Bank now owns 3,127 shares of the transportation company’s stock worth $490,000 after acquiring an additional 71 shares in the last quarter. Finally, Modera Wealth Management LLC raised its position in shares of Old Dominion Freight Line by 2.7% in the 4th quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock worth $434,000 after acquiring an additional 72 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ODFL. Barclays set a $210.00 target price on Old Dominion Freight Line and gave the company an “equal weight” rating in a research note on Thursday, April 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Stifel Nicolaus raised their price objective on Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Wells Fargo & Company set a $235.00 target price on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Friday, June 5th. Finally, Susquehanna upped their target price on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. Nine investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $218.13.

Old Dominion Freight Line Stock Down 0.9%

ODFL stock opened at $217.58 on Wednesday. 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 market cap of $45.25 billion, a PE ratio of 45.52, a price-to-earnings-growth ratio of 4.41 and a beta of 1.17. The business has a 50 day moving average of $218.05 and a 200 day moving average of $194.12.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Insider Activity

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