Gateway Investment Advisers LLC Has $14.36 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

Gateway Investment Advisers LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,552 shares of the transportation company’s stock after buying an additional 8,857 shares during the period. Gateway Investment Advisers LLC’s holdings in Old Dominion Freight Line were worth $14,355,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. K.J. Harrison & Partners Inc raised its holdings in shares of Old Dominion Freight Line by 27.9% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,181 shares of the transportation company’s stock worth $1,440,000 after buying an additional 2,000 shares in the last quarter. Indivisible Partners acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $227,000. Swedbank AB raised its holdings in shares of Old Dominion Freight Line by 0.5% during the 4th quarter. Swedbank AB now owns 78,389 shares of the transportation company’s stock worth $12,291,000 after buying an additional 353 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Old Dominion Freight Line by 4.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 414,867 shares of the transportation company’s stock worth $66,043,000 after buying an additional 18,005 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Old Dominion Freight Line by 61.7% during the 4th quarter. Principal Financial Group Inc. now owns 418,747 shares of the transportation company’s stock worth $65,660,000 after buying an additional 159,788 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ODFL. Barclays set a $210.00 price target on Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Thursday, April 30th. UBS Group boosted their price objective on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Susquehanna restated a “neutral” rating and set a $205.00 price objective (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Morgan Stanley set a $235.00 price objective on Old Dominion Freight Line and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $206.46.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $200.62 on Thursday. The stock’s 50 day simple moving average is $201.03 and its 200 day simple moving average is $174.26. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $233.79. The company has a market cap of $41.79 billion, a P/E ratio of 41.97, a price-to-earnings-growth ratio of 4.01 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 earnings per share. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares of the company’s stock, valued at $2,190,977.06. This represents a 21.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 102,241 shares of company stock valued at $19,874,065. 10.00% of the stock is 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.