SG Americas Securities LLC Has $30.99 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

SG Americas Securities LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 285.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 197,630 shares of the transportation company’s stock after buying an additional 146,410 shares during the quarter. SG Americas Securities LLC’s holdings in Old Dominion Freight Line were worth $30,988,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co. grew its stake in Old Dominion Freight Line by 1.7% in the fourth quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after purchasing an additional 65 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its stake in shares of Old Dominion Freight Line by 4.4% during the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after purchasing an additional 71 shares in the last quarter. Cim LLC raised its stake in shares of Old Dominion Freight Line by 1.0% during the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock worth $1,082,000 after purchasing an additional 75 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of Old Dominion Freight Line by 8.5% during the 3rd quarter. Rothschild Investment LLC now owns 1,071 shares of the transportation company’s stock valued at $151,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $189.05 on Thursday. The business’s 50-day simple moving average is $189.26 and its 200-day simple moving average is $161.14. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $221.63. The firm has a market cap of $39.40 billion, a price-to-earnings ratio of 39.14, a P/E/G ratio of 3.89 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a $0.29 dividend. The ex-dividend date was Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is presently 24.02%.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent research reports. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $195.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Stifel Nicolaus set a $217.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Rothschild & Co Redburn increased their price target on shares of Old Dominion Freight Line from $114.00 to $176.00 and gave the stock a “sell” rating in a research note on Friday, February 6th. Finally, Wolfe Research set a $138.00 price target on shares of Old Dominion Freight Line in a report on Thursday, January 8th. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $191.08.

Insider Transactions at Old Dominion Freight Line

In related news, Director Bradley R. Gabosch sold 3,134 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the transaction, the chairman owned 712,800 shares in the company, valued at $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 80,134 shares of company stock worth $15,640,132. 10.00% of the stock is owned by 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.