WINTON GROUP Ltd Buys Shares of 7,481 Old Dominion Freight Line, Inc. $ODFL

WINTON GROUP Ltd purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,481 shares of the transportation company’s stock, valued at approximately $1,053,000.

Other institutional investors also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after buying an additional 98 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at about $37,000. Finally, Zions Bancorporation National Association UT grew its stake in Old Dominion Freight Line by 273.5% in the third quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 320 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL traded up $1.45 during trading hours on Friday, hitting $177.69. The stock had a trading volume of 303,999 shares, compared to its average volume of 2,313,044. The company has a 50 day simple moving average of $186.50 and a two-hundred day simple moving average of $159.01. The firm has a market capitalization of $37.04 billion, a price-to-earnings ratio of 36.79, a P/E/G ratio of 3.97 and a beta of 1.23. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.16 dividend on an annualized basis and a yield of 0.7%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio is currently 24.02%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the transaction, the insider directly owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,134 shares of company stock valued at $15,640,132 in the last 90 days. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating on shares of Old Dominion Freight Line in a report on Thursday, February 19th. Barclays set a $185.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Stifel Nicolaus set a $217.00 price objective on Old Dominion Freight Line in a report on Thursday, February 5th. UBS Group restated a “neutral” rating and issued a $202.00 price objective (up from $164.00) on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Finally, Truist Financial set a $225.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $191.08.

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.