Motley Fool Asset Management LLC Purchases 4,747 Shares of Old Dominion Freight Line, Inc. $ODFL

Motley Fool Asset Management LLC grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 27.9% in the 4th quarter, HoldingsChannel reports. The firm owned 21,739 shares of the transportation company’s stock after acquiring an additional 4,747 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Old Dominion Freight Line were worth $3,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Portfolio Design Labs LLC lifted its stake in shares of Old Dominion Freight Line by 2.3% in the 4th quarter. Portfolio Design Labs LLC now owns 9,717 shares of the transportation company’s stock valued at $1,524,000 after acquiring an additional 221 shares during the last quarter. Westerkirk Capital Inc. lifted its stake in shares of Old Dominion Freight Line by 42.9% in the 4th quarter. Westerkirk Capital Inc. now owns 5,000 shares of the transportation company’s stock valued at $784,000 after acquiring an additional 1,500 shares during the last quarter. Claret Asset Management Corp bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $219,000. West Family Investments Inc. bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $207,000. Finally, Franklin Resources Inc. lifted its stake in shares of Old Dominion Freight Line by 122.9% in the 4th quarter. Franklin Resources Inc. now owns 1,822,304 shares of the transportation company’s stock valued at $285,737,000 after acquiring an additional 1,004,609 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Activity

In other news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Evercore set a $219.00 price target on Old Dominion Freight Line in a report on Thursday, April 30th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Finally, Barclays set a $210.00 price target on Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $210.71.

Key Old Dominion Freight Line News

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Jefferies raised its price target on Old Dominion Freight Line to $250 from $230, signaling continued confidence in the stock’s long-term value even while keeping a hold rating. Jefferies adjusts PT on Old Dominion Freight Line
• Positive Sentiment: Old Dominion was highlighted on CNBC’s “Final Trades,” which can support investor attention and trading interest in the shares. CNBC Final Trades mention
• Neutral Sentiment: Analysts and commentary suggest the stock has been outperforming parts of the industrials group, but recent coverage also points to a premium valuation after a strong run. Outperforming the industrials sector
• Negative Sentiment: News that Amazon is expanding its less-than-truckload shipping business is pressuring Old Dominion and other freight carriers, raising competition concerns in the LTL market. Amazon expands LTL shipping business
• Negative Sentiment: Another article focused on a fund exit and valuation/risk concerns, reinforcing worries that the stock may be expensive relative to near-term fundamentals. Fund exit puts valuation and risks in focus

Old Dominion Freight Line Stock Performance

ODFL opened at $235.95 on Thursday. 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 $49.07 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 5.04 and a beta of 1.17. The stock’s 50 day moving average price is $213.19 and its 200-day moving average price is $188.33.

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

Old Dominion Freight Line Announces Dividend

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

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.