Old Dominion Freight Line, Inc. $ODFL Shares Acquired by ABN Amro Investment Solutions

ABN Amro Investment Solutions grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1,605.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 120,942 shares of the transportation company’s stock after acquiring an additional 113,850 shares during the quarter. ABN Amro Investment Solutions owned about 0.06% of Old Dominion Freight Line worth $23,632,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ODFL. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares in the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth about $29,000. Reflection Asset Management acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at about $39,000. Finally, DT Investment Partners LLC lifted its holdings in shares of Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the company a “neutral” rating in a report on Tuesday, April 28th. Evercore upgraded shares of Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a research report on Wednesday, July 1st. Finally, Wells Fargo & Company raised shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $235.00 to $250.00 in a report on Wednesday, July 8th. Ten research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $223.04.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Up 1.3%

Shares of ODFL stock opened at $234.79 on Wednesday. The stock’s 50-day moving average price is $223.38 and its 200 day moving average price is $203.53. The stock has a market capitalization of $48.83 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 4.19 and a beta of 1.18. 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 posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $1.19 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts expect that Old Dominion Freight Line, Inc. will post 5.55 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is currently 24.27%.

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.