Logan Capital Management Inc. Acquires 2,312 Shares of Old Dominion Freight Line, Inc. $ODFL

Logan Capital Management Inc. grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,509 shares of the transportation company’s stock after purchasing an additional 2,312 shares during the quarter. Logan Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $14,192,000 at the end of the most recent reporting period.

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

Old Dominion Freight Line Stock Up 5.0%

Old Dominion Freight Line stock opened at $247.76 on Friday. The stock has a market capitalization of $51.53 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 4.78 and a beta of 1.17. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The company has a 50 day moving average of $214.24 and a 200-day moving average of $189.13.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the business posted $1.19 earnings per share. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.38 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 given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ODFL shares. Rothschild & Co Redburn decreased their price objective on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Morgan Stanley set a $235.00 price target on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Susquehanna boosted their price target on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lifted their target price on Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a report on Monday. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $215.43.

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.