Calton & Associates Inc. Takes $762,000 Position in Old Dominion Freight Line, Inc. $ODFL

Calton & Associates Inc. purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,859 shares of the transportation company’s stock, valued at approximately $762,000.

A number of other institutional investors also recently modified their holdings of ODFL. Norges Bank acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $444,983,000. Boston Partners bought a new position in Old Dominion Freight Line during the third quarter worth $292,599,000. Two Sigma Investments LP increased its position in Old Dominion Freight Line by 637.5% during the third quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after acquiring an additional 1,362,697 shares during the period. Life Cycle Investment Partners Ltd bought a new position in Old Dominion Freight Line during the fourth quarter worth $188,651,000. Finally, CIBC Private Wealth Group LLC increased its position in Old Dominion Freight Line by 21.6% during the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after acquiring an additional 776,004 shares during the period. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ODFL. Susquehanna boosted 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. Wells Fargo & Company boosted their target price on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Stephens reaffirmed an “overweight” rating and set a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Evercore set a $219.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, UBS Group boosted their target price on shares of 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. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $207.08.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL opened at $236.06 on Thursday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $236.84. The firm’s fifty day moving average price is $207.60 and its two-hundred day moving average price is $184.29. The company has a market capitalization of $49.09 billion, a P/E ratio of 49.39, a P/E/G ratio of 4.69 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

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.