Old Dominion Freight Line, Inc. $ODFL Shares Bought by Eventide Asset Management LLC

Eventide Asset Management LLC grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 610,644 shares of the transportation company’s stock after purchasing an additional 3,965 shares during the period. Old Dominion Freight Line makes up approximately 1.5% of Eventide Asset Management LLC’s investment portfolio, making the stock its 12th largest holding. Eventide Asset Management LLC’s holdings in Old Dominion Freight Line were worth $95,807,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Deseret Mutual Benefit Administrators increased its holdings in shares of Old Dominion Freight Line by 9.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 57 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 1.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after purchasing an additional 60 shares during the period. Diversified Trust Co. increased its holdings in shares of Old Dominion Freight Line by 1.7% during the fourth quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after purchasing an additional 65 shares during the period. CNB Bank increased its holdings in shares of Old Dominion Freight Line by 2.3% during the fourth quarter. CNB Bank now owns 3,127 shares of the transportation company’s stock valued at $490,000 after purchasing an additional 71 shares during the period. Finally, Modera Wealth Management LLC increased its holdings in shares of Old Dominion Freight Line by 2.7% during the fourth quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock valued at $434,000 after purchasing an additional 72 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 0.8%

NASDAQ:ODFL opened at $245.75 on Friday. The business’s 50-day moving average price is $215.16 and its 200 day moving average price is $189.53. The firm has a market cap of $51.11 billion, a P/E ratio of 51.41, a PEG ratio of 4.97 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.Old Dominion Freight Line’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 earnings per share. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated 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 transaction, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ODFL. Morgan Stanley set a $235.00 price target on Old Dominion Freight Line and gave the company an “overweight” rating in a report on Thursday, April 30th. Stephens reissued an “overweight” rating and set a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Rothschild & Co Redburn lowered their price target on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. UBS Group raised their price target on Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group raised their price target on Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a report on Tuesday, June 9th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $215.43.

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.