42,057 Old Dominion Freight Line, Inc. $ODFL Shares Purchased by CX Institutional

CX Institutional lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4,403.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,012 shares of the transportation company’s stock after purchasing an additional 42,057 shares during the period. CX Institutional’s holdings in Old Dominion Freight Line were worth $7,477,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Compass Financial Management LLC bought a new position in shares of Old Dominion Freight Line during the second quarter valued at approximately $2,158,000. Nykredit A S purchased a new position in shares of Old Dominion Freight Line during the second quarter valued at about $16,333,000. Park National Corp OH purchased a new stake in Old Dominion Freight Line in the first quarter worth about $1,056,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Old Dominion Freight Line by 14.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock worth $241,367,000 after buying an additional 142,809 shares during the period. Finally, Erste Asset Management GmbH boosted its position in Old Dominion Freight Line by 275.9% during the 4th quarter. Erste Asset Management GmbH now owns 61,040 shares of the transportation company’s stock valued at $9,573,000 after acquiring an additional 44,800 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ODFL has been the topic of a number of research analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $241.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. The Goldman Sachs Group restated a “buy” rating and set a $244.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $245.00 price target (up from $235.00) on shares of Old Dominion Freight Line in a research note on Monday, July 6th. Bank of America decreased their price objective on Old Dominion Freight Line from $240.00 to $205.00 in a report on Friday, September 4th. Finally, Jefferies Financial Group restated a “hold” rating and set a $227.00 target price (down from $250.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $226.35.

Old Dominion Freight Line Stock Performance

Shares of ODFL traded up $2.38 during mid-day trading on Friday, reaching $180.48. The company had a trading volume of 1,951,743 shares, compared to its average volume of 2,014,748. The company has a market capitalization of $37.42 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 2.92 and a beta of 1.20. The firm has a 50-day moving average price of $196.69 and a 200 day moving average price of $208.00. 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, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company earned $1.27 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.35%.

Insider Activity

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares of the company’s stock, valued at $4,512,578.94. The trade was a 46.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.20% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation and logistics company that specializes in regional, inter-regional and national less-than-truckload (LTL) services. The company transports shipments that do not require an entire truck, serving commercial, industrial and retail customers across the United States.

Its services include standard and expedited LTL transportation, freight brokerage, supply chain consulting, container drayage and warehousing. Old Dominion supports customers through a network of service centers, terminals and distribution facilities, providing pickup, line-haul and delivery capabilities for a broad range of freight.

Founded in 1934 by Earl Congdon, the company is headquartered in Thomasville, North Carolina.