Old Dominion Freight Line, Inc. $ODFL Shares Newly Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,889 shares of the transportation company’s stock, valued at approximately $1,024,000.

Several other large investors have also modified their holdings of the business. New York Life Investment Management LLC increased its holdings in shares of Old Dominion Freight Line by 2.0% in the 3rd quarter. New York Life Investment Management LLC now owns 27,786 shares of the transportation company’s stock valued at $4,830,000 after acquiring an additional 546 shares during the period. Kinsale Capital Group Inc. lifted its stake in shares of Old Dominion Freight Line by 26.9% during the 3rd quarter. Kinsale Capital Group Inc. now owns 69,516 shares of the transportation company’s stock worth $12,085,000 after purchasing an additional 14,722 shares during the last quarter. Kestra Investment Management LLC lifted its stake in shares of Old Dominion Freight Line by 4.9% during the 3rd quarter. Kestra Investment Management LLC now owns 1,999 shares of the transportation company’s stock worth $348,000 after purchasing an additional 93 shares during the last quarter. AlphaCore Capital LLC lifted its stake in shares of Old Dominion Freight Line by 8.6% during the 3rd quarter. AlphaCore Capital LLC now owns 2,795 shares of the transportation company’s stock worth $486,000 after purchasing an additional 221 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Old Dominion Freight Line by 1.8% during the third quarter. Retirement Systems of Alabama now owns 39,134 shares of the transportation company’s stock valued at $6,803,000 after purchasing an additional 687 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the sale, the senior vice president owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.20% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $171.66 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. The company has a market cap of $35.37 billion, a PE ratio of 30.87, a P/E/G ratio of 2.79 and a beta of 1.14. The business has a 50-day simple moving average of $178.97 and a two-hundred day simple moving average of $201.34.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 28th. The transportation company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.04. Old Dominion Freight Line had a net margin of 20.08% and a return on equity of 25.92%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.93 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 20.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ODFL shares. TD Cowen reduced their target price on shares of Old Dominion Freight Line from $233.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, October 29th. BMO Capital Markets set a $235.00 price objective on shares of Old Dominion Freight Line in a research note on Wednesday, October 7th. Evercore reissued an “outperform” rating and set a $243.00 target price (up from $237.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Jefferies Financial Group restated a “hold” rating and issued a $190.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, October 29th. Finally, Sanford C. Bernstein initiated coverage on shares of Old Dominion Freight Line in a report on Thursday, September 10th. They issued a “market perform” rating and a $200.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $217.22.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a transportation and logistics company specializing in less-than-truckload (LTL) shipping. It combines freight from multiple customers in its network to transport shipments that do not require an entire truck, and provides pickup and delivery services for businesses. Founded in 1934 by Earl and Lillian Congdon, the company began with a single truck serving routes between Virginia and North Carolina. It has since expanded its service-center network across the United States, offering regional and national freight transportation.