Quantum Capital Management LLC NJ Buys 15,546 Shares of Old Dominion Freight Line, Inc. $ODFL

Quantum Capital Management LLC NJ lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 609,937 shares of the transportation company’s stock after acquiring an additional 15,546 shares during the quarter. Old Dominion Freight Line makes up 11.1% of Quantum Capital Management LLC NJ’s portfolio, making the stock its biggest holding. Quantum Capital Management LLC NJ owned 0.29% of Old Dominion Freight Line worth $95,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Deseret Mutual Benefit Administrators lifted its holdings in shares of Old Dominion Freight Line by 9.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after acquiring an additional 57 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after acquiring an additional 60 shares during the period. Diversified Trust Co. lifted its holdings in shares of Old Dominion Freight Line by 1.7% during the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after acquiring an additional 65 shares during the period. CNB Bank lifted its holdings in shares of Old Dominion Freight Line by 2.3% during the 4th quarter. CNB Bank now owns 3,127 shares of the transportation company’s stock worth $490,000 after acquiring an additional 71 shares during the period. Finally, Modera Wealth Management LLC lifted its holdings in shares of Old Dominion Freight Line by 2.7% during the 4th quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock worth $434,000 after acquiring 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%

ODFL stock opened at $245.75 on Friday. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 51.41, a PEG ratio of 5.02 and a beta of 1.17. The company’s fifty day simple moving average is $215.16 and its 200 day simple moving average is $189.53. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business posted $1.19 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.38 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared 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. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the 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 completion of the sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley set a $235.00 price objective on shares of Old Dominion Freight Line and gave the company an “overweight” rating in a research note on Thursday, April 30th. Susquehanna raised their target price on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. Finally, UBS Group raised their target price on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $215.43.

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.