Childress Capital Advisors LLC Purchases Shares of 2,384 Old Dominion Freight Line, Inc. $ODFL

Childress Capital Advisors LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,384 shares of the transportation company’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Diversified Trust Co. lifted its position in shares of 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 worth $609,000 after purchasing an additional 65 shares during the period. Modera Wealth Management LLC grew its stake in shares of Old Dominion Freight Line by 2.7% in the 4th quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock worth $434,000 after buying an additional 72 shares during the last quarter. Cim LLC boosted its stake in Old Dominion Freight Line by 1.0% in the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock worth $1,082,000 after purchasing an additional 75 shares in the last quarter. Brighton Jones LLC grew its position in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares during the last quarter. Finally, YANKCOM Partnership increased its position in shares of Old Dominion Freight Line by 9.8% during the fourth quarter. YANKCOM Partnership now owns 931 shares of the transportation company’s stock valued at $146,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity

In related news, insider Earl E. Congdon sold 25,000 shares of the business’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 owned 2,162,113 shares in the company, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradley R. Gabosch sold 3,134 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 80,134 shares of company stock worth $15,640,132 over the last 90 days. Corporate insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ODFL. Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Wolfe Research lifted their target price on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a report on Tuesday, April 7th. Bank of America set a $165.00 price target on Old Dominion Freight Line in a research note on Thursday, December 18th. Jefferies Financial Group upped their price target on Old Dominion Freight Line from $195.00 to $210.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Finally, TD Cowen increased their price objective on Old Dominion Freight Line from $167.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $195.50.

Old Dominion Freight Line Price Performance

ODFL opened at $213.57 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $221.63. The firm has a market cap of $44.51 billion, a P/E ratio of 44.22, a PEG ratio of 4.32 and a beta of 1.20. The company has a 50 day simple moving average of $195.98 and a two-hundred day simple moving average of $167.42.

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

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is 24.02%.

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.