Hsbc Holdings PLC Acquires 37,789 Shares of Old Dominion Freight Line, Inc. $ODFL

Hsbc Holdings PLC increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 398,981 shares of the transportation company’s stock after acquiring an additional 37,789 shares during the quarter. Hsbc Holdings PLC’s holdings in Old Dominion Freight Line were worth $86,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ODFL. Bogart Wealth LLC grew its holdings in Old Dominion Freight Line by 9.9% during the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after buying an additional 46 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Old Dominion Freight Line by 1.3% in the first quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after buying an additional 55 shares in the last quarter. Keybank National Association OH boosted its position in shares of Old Dominion Freight Line by 2.3% during the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after acquiring an additional 56 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Old Dominion Freight Line by 9.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after acquiring an additional 57 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ODFL has been the topic of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $244.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Zacks Research raised shares of Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Barclays raised their price objective on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. UBS Group reaffirmed a “neutral” rating and issued a $228.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Finally, Weiss Ratings downgraded Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $226.55.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $185.87 on Monday. The business has a fifty day moving average of $214.60 and a 200 day moving average of $210.52. The company has a market cap of $38.54 billion, a PE ratio of 35.81, a P/E/G ratio of 3.12 and a beta of 1.16. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.35%.

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.