Aquatic Capital Management LLC Purchases New Shares in Old Dominion Freight Line, Inc. $ODFL

Aquatic Capital Management LLC acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,525 shares of the transportation company’s stock, valued at approximately $4,297,000.

Other large investors have also modified their holdings of the company. YANKCOM Partnership grew its position in shares of Old Dominion Freight Line by 9.1% during the 2nd quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 68 shares during the period. Legacy Capital Wealth Partners LLC boosted its position in Old Dominion Freight Line by 4.4% during the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after purchasing an additional 71 shares in the last quarter. Cim LLC boosted its position in Old Dominion Freight Line by 1.0% during the third 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 holdings in Old Dominion Freight Line by 5.3% in the fourth 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 period. Finally, Rothschild Investment LLC increased its position in shares of Old Dominion Freight Line by 8.5% in the third quarter. Rothschild Investment LLC now owns 1,071 shares of the transportation company’s stock valued at $151,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ODFL shares. TD Cowen increased their target price 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. Citigroup restated a “neutral” rating and set a $216.00 price objective (up from $196.00) on shares of Old Dominion Freight Line in a research report on Friday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $195.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, February 4th. Stifel Nicolaus set a $217.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Finally, Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $191.08.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the transaction, the director directly owned 11,278 shares in the company, valued at $2,190,977.06. The trade was a 21.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the sale, the insider directly owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. This trade represents a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 80,134 shares of company stock worth $15,640,132. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $182.44 on Tuesday. The business’s 50 day moving average price is $187.31 and its 200 day moving average price is $159.49. The company has a market cap of $38.03 billion, a price-to-earnings ratio of 37.77, a PEG ratio of 3.80 and a beta of 1.23. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the business earned $1.23 EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s payout ratio is currently 24.02%.

Old Dominion Freight Line 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.