B. Metzler seel. Sohn & Co. AG Sells 21,090 Shares of Old Dominion Freight Line, Inc. $ODFL

B. Metzler seel. Sohn & Co. AG cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 42.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,019 shares of the transportation company’s stock after selling 21,090 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Old Dominion Freight Line were worth $4,085,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after buying an additional 622,275 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Old Dominion Freight Line by 12.9% in the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock worth $12,405,000 after buying an additional 10,046 shares in the last quarter. Wilson Asset Management International PTY Ltd. purchased a new position in shares of Old Dominion Freight Line in the third quarter worth $4,307,000. Atlantic Union Bankshares Corp bought a new position in shares of Old Dominion Freight Line during the third quarter worth $1,999,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Old Dominion Freight Line by 10.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,271 shares of the transportation company’s stock worth $11,441,000 after acquiring an additional 7,709 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the sale, the chairman directly owned 712,800 shares of the company’s stock, valued at $138,832,056. This trade represents a 6.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the transaction, the director owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 80,134 shares of company stock valued at $15,640,132 over the last ninety days. 10.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Jefferies Financial Group increased their price objective on shares of Old Dominion Freight Line from $195.00 to $210.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Truist Financial set a $225.00 price objective on Old Dominion Freight Line in a research report on Thursday, February 5th. Bank of America set a $165.00 target price on Old Dominion Freight Line in a report on Thursday, December 18th. Finally, Stephens reiterated an “overweight” rating and issued a $232.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $190.50.

Old Dominion Freight Line Stock Up 1.7%

Old Dominion Freight Line stock opened at $197.22 on Tuesday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $221.63. The firm’s fifty day moving average is $184.76 and its 200 day moving average is $158.43. The company has a market cap of $41.11 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 4.08 and a beta of 1.23.

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

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given a $0.29 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.02%.

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.