Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Inspire Investing LLC

Inspire Investing LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 68.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 38,882 shares of the transportation company’s stock after acquiring an additional 15,808 shares during the quarter. Inspire Investing LLC’s holdings in Old Dominion Freight Line were worth $6,097,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Old Dominion Freight Line by 2.2% during the third quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock worth $3,273,546,000 after purchasing an additional 494,674 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Old Dominion Freight Line by 14.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock worth $2,230,318,000 after purchasing an additional 1,761,511 shares in the last quarter. State Street Corp grew its stake in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock worth $1,214,618,000 after purchasing an additional 70,736 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Old Dominion Freight Line by 21.6% during the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after purchasing an additional 776,004 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Old Dominion Freight Line by 98.4% during the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock worth $648,186,000 after purchasing an additional 2,044,434 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $218.36 on Thursday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The company has a market capitalization of $45.41 billion, a PE ratio of 45.68, a P/E/G ratio of 4.69 and a beta of 1.17. The company has a fifty day moving average of $216.95 and a two-hundred day moving average of $191.92.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.38 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 24.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ODFL shares. Stifel Nicolaus boosted their target price on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. Wells Fargo & Company set a $235.00 target price on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. boosted their target price on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Finally, Susquehanna boosted their target price on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $215.57.

Old Dominion Freight Line Company 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.