BNP Paribas Financial Markets Boosts Holdings in Old Dominion Freight Line, Inc. $ODFL

BNP Paribas Financial Markets raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 18.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 702,400 shares of the transportation company’s stock after purchasing an additional 108,335 shares during the period. BNP Paribas Financial Markets’ holdings in Old Dominion Freight Line were worth $110,136,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ODFL. Westside Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after buying 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 third quarter worth about $37,000. Torren Management LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $41,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $50,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Old Dominion Freight Line during the third quarter worth about $55,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ODFL has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Raymond James Financial reiterated an “outperform” rating and set a $224.00 price target on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Stephens reiterated an “overweight” rating and set a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Rothschild & Co Redburn lowered their price target on shares of 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. Finally, Wolfe Research boosted their target price on shares of 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 issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $206.29.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $225.15 on Monday. The company has a market cap of $46.82 billion, a P/E ratio of 47.10, a P/E/G ratio of 4.61 and a beta of 1.17. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $233.79. The firm’s 50 day moving average is $204.81 and its two-hundred day moving average is $182.32.

Old Dominion Freight Line (NASDAQ:ODFL) last posted 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. The company had revenue of $1.33 billion for 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%. Old Dominion Freight Line’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a 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%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.