Old Dominion Freight Line, Inc. $ODFL Stock Holdings Reduced by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. cut its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,881 shares of the transportation company’s stock after selling 3,828 shares during the period. Asset Management One Co. Ltd.’s holdings in Old Dominion Freight Line were worth $12,743,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after purchasing an additional 622,275 shares during the period. Truist Financial Corp raised its position 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 valued at $12,405,000 after purchasing an additional 10,046 shares during the period. Wilson Asset Management International PTY Ltd. bought a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $4,307,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Old Dominion Freight Line in the third quarter worth $1,999,000. Finally, Citigroup Inc. boosted its holdings in shares of Old Dominion Freight Line by 46.4% during the 3rd quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock worth $146,507,000 after buying an additional 329,895 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction 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. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the transaction, the director directly owned 11,278 shares in the company, 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. In the last quarter, insiders have sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Up 2.6%

NASDAQ ODFL opened at $223.38 on Tuesday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $223.92. The stock has a market cap of $46.56 billion, a P/E ratio of 46.25, a PEG ratio of 4.57 and a beta of 1.20. The company’s 50-day simple moving average is $196.83 and its 200 day simple moving average is $168.93.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 earnings per share. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.12 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ODFL shares. Deutsche Bank Aktiengesellschaft downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price target on the stock. in a research report on Thursday, February 5th. Citigroup boosted their price objective on Old Dominion Freight Line from $216.00 to $218.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Wells Fargo & Company raised Old Dominion Freight Line from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $165.00 to $200.00 in a report on Tuesday, April 7th. Jefferies Financial Group lifted their price target on Old Dominion Freight Line from $195.00 to $210.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Finally, Morgan Stanley upped their price target on Old Dominion Freight Line from $209.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $195.50.

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.