Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Value Partners Investments Inc.

Value Partners Investments Inc. increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 38.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,103 shares of the transportation company’s stock after buying an additional 5,610 shares during the period. Value Partners Investments Inc.’s holdings in Old Dominion Freight Line were worth $3,157,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Old Dominion Freight Line by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after buying an additional 622,275 shares in the last quarter. Truist Financial Corp increased its position in Old Dominion Freight Line by 12.9% during the third quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock worth $12,405,000 after buying an additional 10,046 shares in the last quarter. Wilson Asset Management International PTY Ltd. purchased a new position in Old Dominion Freight Line during the third quarter worth $4,307,000. Atlantic Union Bankshares Corp acquired a new position in shares of Old Dominion Freight Line in the third quarter worth $1,999,000. Finally, Citigroup Inc. raised its holdings in shares of Old Dominion Freight Line by 46.4% in the third quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock worth $146,507,000 after acquiring an additional 329,895 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 0.9%

Old Dominion Freight Line stock opened at $183.92 on Friday. The stock has a fifty day moving average price of $188.40 and a 200 day moving average price of $160.34. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $221.63. The firm has a market capitalization of $38.33 billion, a P/E ratio of 38.08, a PEG ratio of 3.86 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $1.23 EPS. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a $0.29 dividend. 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 dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio is 24.02%.

Analysts Set New Price Targets

A number of research firms recently commented on ODFL. Bank of America set a $165.00 price objective on Old Dominion Freight Line in a research note on Thursday, December 18th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. BMO Capital Markets restated an “outperform” rating on shares of Old Dominion Freight Line in a report on Thursday, February 19th. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $209.00 price target (up from $190.00) on shares of Old Dominion Freight Line in a report on Wednesday, February 4th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $191.08.

Insider Buying and Selling

In related news, Director Bradley R. Gabosch sold 3,134 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares in the company, valued at approximately $2,190,977.06. The trade was a 21.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the company’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 directly owned 712,800 shares of the company’s stock, valued at $138,832,056. This trade represents a 6.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 80,134 shares of company stock valued at $15,640,132. Insiders own 10.00% of the company’s stock.

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.