Nkcfo LLC Takes Position in Old Dominion Freight Line, Inc. $ODFL

Nkcfo LLC acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, Holdings Channel reports. The firm acquired 3,400 shares of the transportation company’s stock, valued at approximately $533,000.

Several other hedge funds also recently modified their holdings of ODFL. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 123 shares in the last quarter. Westside Investment Management Inc. increased its stake in Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Old Dominion Freight Line during the 3rd quarter valued at $37,000. Torren Management LLC bought a new stake in Old Dominion Freight Line during the 4th quarter valued at $41,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Old Dominion Freight Line during the 4th quarter valued at $50,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $212.43 on Friday. The stock’s 50-day simple moving average is $201.00 and its 200 day simple moving average is $172.87. 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 capitalization of $44.25 billion, a P/E ratio of 44.44, a P/E/G ratio of 4.37 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.15 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

Analyst Ratings Changes

A number of brokerages have commented on ODFL. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. Wolfe Research lifted their price objective on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Barclays set a $210.00 price objective on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Thursday. Finally, Morgan Stanley set a $235.00 price target on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a report on Thursday. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $203.21.

Insider Activity

In related news, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the sale, the chairman owned 712,800 shares of the company’s stock, valued at $138,832,056. This trade represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the completion of the sale, the insider directly owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is currently owned by company insiders.

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.