Headlands Technologies LLC Invests $901,000 in Old Dominion Freight Line, Inc. $ODFL

Headlands Technologies LLC acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,160 shares of the transportation company’s stock, valued at approximately $901,000.

A number of other large investors also recently modified their holdings of ODFL. Sigma Planning Corp boosted its stake in Old Dominion Freight Line by 170.7% in the second quarter. Sigma Planning Corp now owns 3,175 shares of the transportation company’s stock worth $688,000 after buying an additional 2,002 shares in the last quarter. Two Sigma Securities LLC raised its stake in shares of Old Dominion Freight Line by 112.1% during the second quarter. Two Sigma Securities LLC now owns 4,242 shares of the transportation company’s stock worth $919,000 after acquiring an additional 2,242 shares in the last quarter. Flputnam Investment Management Co. bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $214,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Old Dominion Freight Line by 17.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,407 shares of the transportation company’s stock worth $954,000 after acquiring an additional 665 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Old Dominion Freight Line by 14.7% in the 2nd 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 valued at $241,367,000 after purchasing an additional 142,809 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $187.01 on Wednesday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The stock has a market capitalization of $38.78 billion, a price-to-earnings ratio of 36.03, a P/E/G ratio of 3.47 and a beta of 1.16. The company’s 50 day moving average price is $216.57 and its 200-day moving average price is $210.60.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $1.27 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, equities 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.35%.

Wall Street Analyst Weigh In

Several research firms recently commented on ODFL. Morgan Stanley reaffirmed an “equal weight” rating and set a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a report on Monday, July 6th. The Goldman Sachs Group reissued a “buy” rating and issued a $244.00 price target on shares of Old Dominion Freight Line in a research note on Wednesday, July 29th. Argus upped their price target on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Weiss Ratings cut Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Barclays lifted their price objective on Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $226.55.

Insider Activity

In other Old Dominion Freight Line news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total value of $3,958,277.28. Following the transaction, the senior vice president owned 22,746 shares in the company, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.20% of the company’s stock.

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.