Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes Position in Old Dominion Freight Line, Inc. $ODFL

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,991 shares of the transportation company’s stock, valued at approximately $469,000.

Several other institutional investors have also added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. boosted its position in Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after purchasing an additional 123 shares during the period. Westside Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $55,000. Finally, Zions Bancorporation National Association UT boosted its holdings in Old Dominion Freight Line by 273.5% in the 3rd quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock worth $62,000 after buying an additional 320 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction dated 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,134 shares of company stock worth $15,640,132 over the last ninety days. 10.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ODFL has been the topic of a number of analyst reports. Stifel Nicolaus set a $217.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Citigroup reaffirmed a “neutral” rating and issued a $216.00 price target (up from $196.00) on shares of Old Dominion Freight Line in a report on Friday, February 6th. Zacks Research upgraded Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $195.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, February 4th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $191.13.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $198.00 on Monday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $221.63. The stock has a market capitalization of $41.27 billion, a PE ratio of 40.99, a P/E/G ratio of 4.18 and a beta of 1.20. The company’s 50 day simple moving average is $191.79 and its two-hundred day simple moving average is $163.57.

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

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed 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. 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 0.6%. The ex-dividend date of this dividend was Wednesday, March 4th. 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.