Korea Investment CORP Has $8.28 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

Korea Investment CORP lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 42.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,780 shares of the transportation company’s stock after selling 43,471 shares during the quarter. Korea Investment CORP’s holdings in Old Dominion Freight Line were worth $8,275,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the period. Empowered Funds LLC grew its holdings in shares of Old Dominion Freight Line by 134.9% in the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after purchasing an additional 5,866 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth about $1,286,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth about $305,000. Finally, Allworth Financial LP increased its position in shares of Old Dominion Freight Line by 463.7% during the 2nd quarter. Allworth Financial LP now owns 11,421 shares of the transportation company’s stock worth $1,854,000 after purchasing an additional 9,395 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 3.2%

Shares of NASDAQ ODFL opened at $188.78 on Thursday. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $221.63. The firm’s 50-day simple moving average is $186.11 and its 200 day simple moving average is $158.89. The company has a market cap of $39.35 billion, a price-to-earnings ratio of 39.08, a price-to-earnings-growth ratio of 4.10 and a beta of 1.23.

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

Old Dominion Freight Line Increases Dividend

The business also recently declared 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 dividend payout ratio (DPR) is 24.02%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction on Wednesday, February 18th. The stock was 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 approximately $2,190,977.06. This trade represents a 21.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value 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 $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 80,134 shares of company stock worth $15,640,132 in the last quarter. Insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ODFL shares. Truist Financial set a $225.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Bank of America set a $165.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, December 18th. Rothschild & Co Redburn lifted their target price on shares of Old Dominion Freight Line from $114.00 to $176.00 and gave the company a “sell” rating in a research note on Friday, February 6th. Stifel Nicolaus set a $217.00 target price on Old Dominion Freight Line in a report on Thursday, February 5th. Finally, TD Cowen increased their price target on Old Dominion Freight Line from $167.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $191.08.

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.