Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Strs Ohio

Strs Ohio boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 46.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,093 shares of the transportation company’s stock after acquiring an additional 58,429 shares during the quarter. Strs Ohio owned about 0.09% of Old Dominion Freight Line worth $35,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Keybank National Association OH increased its holdings in shares of Old Dominion Freight Line by 2.3% in the first quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after purchasing an additional 56 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings 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 purchasing an additional 57 shares during the period. Verdence Capital Advisors LLC grew its position in Old Dominion Freight Line by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after buying an additional 60 shares during the last quarter. Diversified Trust Co. grew its position in Old Dominion Freight Line by 1.7% in the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after buying an additional 65 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in Old Dominion Freight Line by 5.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,443 shares of the transportation company’s stock valued at $282,000 after buying an additional 69 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent analyst reports. Wolfe Research raised their target price on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price target on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Wells Fargo & Company set a $235.00 price target on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Friday, June 5th. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Finally, Stephens reaffirmed an “overweight” rating and issued a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $218.57.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $217.65 on Friday. The company has a 50-day simple moving average of $218.55 and a 200-day simple moving average of $197.40. The company has a market capitalization of $45.26 billion, a PE ratio of 45.53, a P/E/G ratio of 4.36 and a beta of 1.18. 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 announced 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 firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.44 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

Old Dominion Freight Line Company Profile

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.