Boston Partners Purchases 2,044,434 Shares of Old Dominion Freight Line, Inc. $ODFL

Boston Partners boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 98.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,122,696 shares of the transportation company’s stock after purchasing an additional 2,044,434 shares during the period. Boston Partners’ holdings in Old Dominion Freight Line were worth $648,186,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SIR Capital Management L.P. bought a new stake in Old Dominion Freight Line during the 4th quarter valued at about $1,944,000. Korea Investment CORP lifted its holdings in Old Dominion Freight Line by 48.6% during the 4th quarter. Korea Investment CORP now owns 87,325 shares of the transportation company’s stock valued at $13,693,000 after buying an additional 28,545 shares in the last quarter. Banco Santander S.A. lifted its holdings in Old Dominion Freight Line by 82.7% during the 4th quarter. Banco Santander S.A. now owns 37,466 shares of the transportation company’s stock valued at $5,875,000 after buying an additional 16,955 shares in the last quarter. Wealthspire Advisors LLC lifted its holdings in Old Dominion Freight Line by 295.5% during the 4th quarter. Wealthspire Advisors LLC now owns 1,677 shares of the transportation company’s stock valued at $263,000 after buying an additional 1,253 shares in the last quarter. Finally, Quantum Capital Management LLC NJ lifted its holdings in Old Dominion Freight Line by 2.6% during the 4th quarter. Quantum Capital Management LLC NJ now owns 609,937 shares of the transportation company’s stock valued at $95,638,000 after buying an additional 15,546 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ODFL. Weiss Ratings reiterated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Citigroup reissued a “neutral” rating and set a $225.00 target price (up from $218.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and set a $224.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Finally, Stifel Nicolaus boosted their target price on shares of Old Dominion Freight Line from $228.00 to $232.00 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. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $215.43.

Old Dominion Freight Line Stock Down 0.8%

Shares of NASDAQ ODFL opened at $245.75 on Friday. The firm has a 50-day simple moving average of $215.16 and a 200-day simple moving average of $189.53. The stock has a market capitalization of $51.11 billion, a price-to-earnings ratio of 51.41, a price-to-earnings-growth ratio of 5.02 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 18.46% and a return on equity of 23.42%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 earnings per share. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend 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%.

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.