Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Mather Group LLC.

Mather Group LLC. lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 111.9% during the third quarter, Holdings Channel reports. The fund owned 33,808 shares of the transportation company’s stock after acquiring an additional 17,852 shares during the quarter. Mather Group LLC.’s holdings in Old Dominion Freight Line were worth $5,877,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ODFL. Nykredit A S bought a new position in Old Dominion Freight Line in the 2nd quarter worth $16,333,000. Compass Financial Management LLC bought a new position in Old Dominion Freight Line in the 2nd quarter worth $2,158,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Old Dominion Freight Line during the 2nd quarter worth $42,410,000. Park National Corp OH acquired a new position in Old Dominion Freight Line during the 1st quarter worth $1,056,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Old Dominion Freight Line by 14.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock worth $241,367,000 after acquiring an additional 142,809 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent analyst reports. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price target for the company from $231.00 to $223.00 in a report on Tuesday, September 8th. Sanford C. Bernstein assumed coverage on Old Dominion Freight Line in a research note on Thursday, September 10th. They issued a “market perform” rating and a $200.00 price objective on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $244.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Morgan Stanley reissued an “equal weight” rating and set a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. decreased their target price on Old Dominion Freight Line from $250.00 to $232.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $223.48.

Insiders Place Their Bets

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the sale, the senior vice president directly owned 22,746 shares in the company, valued at $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.20% of the stock is owned by company insiders.

Old Dominion Freight Line Trading Up 2.4%

NASDAQ ODFL opened at $188.88 on Friday. The stock’s 50 day moving average is $189.17 and its two-hundred day moving average is $207.73. The company has a market capitalization of $39.17 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 3.05 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the company posted $1.27 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.86 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is currently 22.35%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation and logistics company that specializes in regional, inter-regional and national less-than-truckload (LTL) services. The company transports shipments that do not require an entire truck, serving commercial, industrial and retail customers across the United States.

Its services include standard and expedited LTL transportation, freight brokerage, supply chain consulting, container drayage and warehousing. Old Dominion supports customers through a network of service centers, terminals and distribution facilities, providing pickup, line-haul and delivery capabilities for a broad range of freight.

Founded in 1934 by Earl Congdon, the company is headquartered in Thomasville, North Carolina.