USS Investment Management Ltd Acquires 3,000 Shares of Old Dominion Freight Line, Inc. $ODFL

USS Investment Management Ltd raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,020 shares of the transportation company’s stock after purchasing an additional 3,000 shares during the quarter. USS Investment Management Ltd’s holdings in Old Dominion Freight Line were worth $6,587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ODFL. DT Investment Partners LLC lifted its position in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $37,000. Torren Management LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $41,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $50,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $55,000. Institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ODFL. BMO Capital Markets restated an “outperform” rating and issued a $230.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Susquehanna raised their target price on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Rothschild & Co Redburn lowered their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Finally, Stifel Nicolaus raised their target price on shares of Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $215.57.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the transaction, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Price Performance

ODFL stock opened at $237.42 on Tuesday. The company has a market capitalization of $49.38 billion, a PE ratio of 49.67, a P/E/G ratio of 4.97 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The firm’s 50-day moving average is $215.95 and its 200 day moving average is $190.65.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. Sell-side 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

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.