USS Investment Management Ltd Has $9 Million Stock Position in Old Dominion Freight Line, Inc. $ODFL

USS Investment Management Ltd boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,079 shares of the transportation company’s stock after purchasing an additional 4,059 shares during the quarter. USS Investment Management Ltd’s holdings in Old Dominion Freight Line were worth $9,000,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after acquiring an additional 1,761,511 shares during the last quarter. State Street Corp boosted its position in Old Dominion Freight Line by 0.9% during the 4th quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock worth $1,214,618,000 after buying an additional 70,736 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Old Dominion Freight Line by 21.6% in the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after purchasing an additional 776,004 shares during the last quarter. Boston Partners grew its position in shares of Old Dominion Freight Line by 98.4% in the 4th quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock valued at $648,186,000 after buying an additional 2,044,434 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,680,719 shares of the transportation company’s stock valued at $577,137,000 after acquiring an additional 365,424 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Up 0.6%

Shares of ODFL stock opened at $217.96 on Thursday. The firm has a 50 day moving average of $218.73 and a 200-day moving average of $196.84. The company has a market cap of $45.33 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 4.34 and a beta of 1.18. 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 released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Old Dominion Freight Line’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.44 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is currently 24.27%.

Insider Activity

In other news, Director Greg C. Gantt sold 22,107 shares of the 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 transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $235.00 price objective (up from $209.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 23rd. Wells Fargo & Company set a $235.00 target price on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Rothschild & Co Redburn dropped their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. Finally, Robert W. Baird set a $229.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $218.57.

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.