2,305 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by OneAscent Financial Services LLC

OneAscent Financial Services LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,305 shares of the transportation company’s stock, valued at approximately $361,000.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on ODFL. Jefferies Financial Group boosted their target price on Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a “hold” rating in a research note on Wednesday, April 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Tuesday, April 14th. Wells Fargo & Company set a $235.00 price objective on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research report on Friday. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Argus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $208.33.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $242.57 on Monday. The stock has a 50-day simple moving average of $209.88 and a 200-day simple moving average of $185.89. The stock has a market cap of $50.45 billion, a P/E ratio of 50.75, a P/E/G ratio of 4.92 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $249.14.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.37 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors 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 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is 24.27%.

Insider Activity

In related news, Director Greg C. Gantt sold 22,107 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is currently owned by company insiders.

Old Dominion Freight Line Company 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.