Fideuram Asset Management Ireland dac Invests $2.03 Million in Old Dominion Freight Line, Inc. $ODFL

Fideuram Asset Management Ireland dac acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,932 shares of the transportation company’s stock, valued at approximately $2,028,000.

Several other hedge funds and other institutional investors have also modified their holdings of ODFL. Westside Investment Management Inc. grew its stake in shares of Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after acquiring an additional 98 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Old Dominion Freight Line in the third quarter worth $37,000. Torren Management LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $41,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Old Dominion Freight Line during the fourth quarter worth $50,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Old Dominion Freight Line during the third quarter worth $55,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Jefferies Financial Group lifted their price target on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price target on the stock. in a research note on Thursday, February 5th. Argus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Thursday, February 12th. Finally, Morgan Stanley set a $235.00 price target on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $206.29.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $225.15 on Friday. The stock has a market cap of $46.82 billion, a PE ratio of 47.10, a PEG ratio of 4.52 and a beta of 1.17. The business has a fifty day moving average of $204.81 and a two-hundred day moving average of $182.01. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

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.