Forsta AP Fonden Sells 2,700 Shares of Old Dominion Freight Line, Inc. $ODFL

Forsta AP Fonden decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,100 shares of the transportation company’s stock after selling 2,700 shares during the quarter. Forsta AP Fonden’s holdings in Old Dominion Freight Line were worth $5,817,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Verdence Capital Advisors LLC grew its position 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 buying an additional 60 shares in the last quarter. Diversified Trust Co. grew its position 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 buying an additional 65 shares in the last quarter. Modera Wealth Management LLC grew its position 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 buying an additional 72 shares in the last quarter. Cim LLC lifted its stake in shares of Old Dominion Freight Line by 1.0% during the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock worth $1,082,000 after purchasing an additional 75 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 1.5%

Shares of NASDAQ:ODFL opened at $228.53 on Tuesday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $233.79. The stock has a market cap of $47.53 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 4.61 and a beta of 1.17. The business has a 50-day moving average price of $205.73 and a 200-day moving average price of $182.95.

Old Dominion Freight Line (NASDAQ:ODFL) last announced 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. 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 analysts’ expectations of $1.31 billion. During the same period last year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on ODFL. Argus upgraded 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 note on Thursday, February 12th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. BMO Capital Markets upped their price objective on Old Dominion Freight Line from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. TD Cowen restated a “hold” rating and set a $194.00 price objective (up from $180.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Finally, Wells Fargo & Company upped their price objective on Old Dominion Freight Line from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $206.29.

Insider Activity

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