Sei Investments Co. Increases Position in Old Dominion Freight Line, Inc. $ODFL

Sei Investments Co. raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 43.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 121,217 shares of the transportation company’s stock after acquiring an additional 36,447 shares during the period. Sei Investments Co. owned 0.06% of Old Dominion Freight Line worth $23,686,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ODFL. Bogart Wealth LLC raised its stake in Old Dominion Freight Line by 9.9% during the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock worth $100,000 after purchasing an additional 46 shares during the period. Private Advisor Group LLC grew its stake in shares of Old Dominion Freight Line by 1.3% during the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock valued at $814,000 after buying an additional 55 shares during the period. Keybank National Association OH increased its holdings in shares of Old Dominion Freight Line by 2.3% during the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after buying an additional 56 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of Old Dominion Freight Line by 9.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after buying an additional 57 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of 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 worth $812,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction dated 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 directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.00% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Trading Down 0.2%

Old Dominion Freight Line stock opened at $226.28 on Wednesday. The stock has a market cap of $47.06 billion, a P/E ratio of 47.34, a price-to-earnings-growth ratio of 4.09 and a beta of 1.18. The stock has a 50 day moving average of $226.38 and a 200-day moving average of $205.89. 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 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.56 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.27%.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating and set a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. Evercore upgraded shares of Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Old Dominion Freight Line in a research report on Friday, July 10th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Ten investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $223.04.

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.