Old Dominion Freight Line, Inc. $ODFL Stake Raised by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 285.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,630 shares of the transportation company’s stock after purchasing an additional 146,410 shares during the period. SG Americas Securities LLC owned approximately 0.09% of Old Dominion Freight Line worth $30,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ODFL. E Fund Management Hong Kong Co. Ltd. lifted its stake 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 valued at $27,000 after purchasing an additional 123 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after buying an additional 98 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line in the third quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd acquired a new position in Old Dominion Freight Line in the third quarter worth approximately $55,000. Finally, Zions Bancorporation National Association UT increased its holdings in shares of Old Dominion Freight Line by 273.5% in the third quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock valued at $62,000 after buying an additional 320 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In other news, insider Earl E. Congdon sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the transaction, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. This represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 52,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was 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. This trade represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,134 shares of company stock valued at $15,640,132 in the last 90 days. 10.00% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Up 2.2%

ODFL opened at $189.05 on Thursday. The firm has a market capitalization of $39.40 billion, a P/E ratio of 39.14, a PEG ratio of 3.89 and a beta of 1.23. The stock has a fifty day moving average of $189.26 and a 200-day moving average of $161.14. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $221.63.

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

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a dividend of $0.29 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.02%.

Analyst Ratings Changes

A number of equities research analysts have recently commented 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 objective for the company. in a research report on Thursday, February 5th. Barclays set a $185.00 target price on Old Dominion Freight Line in a research report on Thursday, February 5th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Wells Fargo & Company increased their price target on Old Dominion Freight Line from $138.00 to $165.00 and gave the company an “underweight” rating in a research report on Thursday, February 5th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Old Dominion Freight Line in a research note on Thursday, February 19th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $191.08.

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.