Alamea Verwaltungs GmbH Invests $527,000 in Old Dominion Freight Line, Inc. $ODFL

Alamea Verwaltungs GmbH bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,044 shares of the transportation company’s stock, valued at approximately $527,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Jacobi Capital Management LLC increased its position in shares of Old Dominion Freight Line by 3.3% during the fourth quarter. Jacobi Capital Management LLC now owns 3,188 shares of the transportation company’s stock worth $500,000 after acquiring an additional 102 shares during the last quarter. CreativeOne Wealth LLC grew its stake in Old Dominion Freight Line by 26.4% in the fourth quarter. CreativeOne Wealth LLC now owns 9,683 shares of the transportation company’s stock worth $1,518,000 after purchasing an additional 2,025 shares in the last quarter. Marshall Wace LLP grew its stake in Old Dominion Freight Line by 7,021.5% in the fourth quarter. Marshall Wace LLP now owns 361,845 shares of the transportation company’s stock worth $56,737,000 after purchasing an additional 356,764 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Old Dominion Freight Line by 56.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 323,288 shares of the transportation company’s stock worth $50,803,000 after purchasing an additional 116,379 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its stake in Old Dominion Freight Line by 582.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 10,646 shares of the transportation company’s stock worth $1,669,000 after purchasing an additional 9,086 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ODFL has been the subject of a number of research reports. Citigroup reiterated a “neutral” rating and issued a $225.00 price target (up from $218.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. UBS Group lifted their price target on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Barclays set a $210.00 price target on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. The Goldman Sachs Group set a $216.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Rothschild & Co Redburn decreased their price target on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $215.43.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the company’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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is currently owned by insiders.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $245.75 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The stock has a market cap of $51.11 billion, a price-to-earnings ratio of 51.41, a PEG ratio of 4.97 and a beta of 1.17. The stock’s 50 day moving average price is $215.16 and its 200 day moving average price is $189.53.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping 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 firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

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.