Roundview Capital LLC Acquires 6,247 Shares of Old Dominion Freight Line, Inc. $ODFL

Roundview Capital LLC increased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 36.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,442 shares of the transportation company’s stock after purchasing an additional 6,247 shares during the quarter. Roundview Capital LLC’s holdings in Old Dominion Freight Line were worth $3,676,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Kestra Investment Management LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $227,000. Allstate Corp grew its stake in shares of Old Dominion Freight Line by 89.1% during the 4th quarter. Allstate Corp now owns 12,776 shares of the transportation company’s stock worth $2,003,000 after acquiring an additional 6,019 shares in the last quarter. Summitry LLC grew its stake in shares of Old Dominion Freight Line by 5.4% during the 4th quarter. Summitry LLC now owns 218,175 shares of the transportation company’s stock worth $34,210,000 after acquiring an additional 11,223 shares in the last quarter. Choate Investment Advisors grew its stake in shares of Old Dominion Freight Line by 2.2% during the 4th quarter. Choate Investment Advisors now owns 13,420 shares of the transportation company’s stock worth $2,104,000 after acquiring an additional 286 shares in the last quarter. Finally, Rooted Wealth Advisors Inc. bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $161,000. 77.82% of the stock is owned by institutional investors.

Insider Activity at Old Dominion Freight Line

In other news, 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 owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider directly owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This represents a 1.14% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ODFL shares. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. Rothschild & Co Redburn decreased their price target on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Tuesday, April 14th. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 12th. Finally, Morgan Stanley set a $235.00 price target on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $206.29.

Old Dominion Freight Line Trading Up 2.9%

NASDAQ ODFL opened at $216.61 on Wednesday. The company has a market cap of $45.05 billion, a PE ratio of 45.32, a PEG ratio of 4.31 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $233.79. The stock has a 50 day moving average of $202.49 and a 200-day moving average of $180.56.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The company 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 firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 EPS. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio 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.