Intech Investment Management LLC Has $1.38 Million Position in Old Dominion Freight Line, Inc. $ODFL

Intech Investment Management LLC cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 30.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,807 shares of the transportation company’s stock after selling 4,247 shares during the period. Intech Investment Management LLC’s holdings in Old Dominion Freight Line were worth $1,381,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. YANKCOM Partnership boosted its position in Old Dominion Freight Line by 9.1% in the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after buying an additional 68 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its holdings in shares of Old Dominion Freight Line by 4.4% during the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after buying an additional 71 shares in the last quarter. STF Management LP increased its holdings in shares of Old Dominion Freight Line by 2.4% during the second quarter. STF Management LP now owns 3,277 shares of the transportation company’s stock worth $532,000 after buying an additional 77 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Old Dominion Freight Line by 0.6% in the 1st quarter. Summit Investment Advisors Inc. now owns 14,347 shares of the transportation company’s stock valued at $2,374,000 after acquiring an additional 79 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of Old Dominion Freight Line by 5.3% in the 4th 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 last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director owned 11,278 shares of the company’s stock, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 52,000 shares of the firm’s 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 transaction, the chairman owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. The trade was a 6.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ODFL has been the topic of a number of research reports. Stephens restated an “overweight” rating and set a $232.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Bank of America set a $165.00 target price on Old Dominion Freight Line in a research report on Thursday, December 18th. Wells Fargo & Company lifted their price target on Old Dominion Freight Line from $138.00 to $165.00 and gave the company an “underweight” rating in a research note on Thursday, February 5th. Zacks Research upgraded Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $205.00 price objective (up from $185.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 11th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $190.50.

Old Dominion Freight Line Stock Down 7.9%

NASDAQ ODFL opened at $193.97 on Friday. The company has a market capitalization of $40.43 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 4.43 and a beta of 1.23. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $221.63. The stock has a fifty day simple moving average of $184.00 and a 200 day simple moving average of $158.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $1.23 EPS. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. Research 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 business also recently announced 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. The ex-dividend date is Wednesday, March 4th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.02%.

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.