Dynasty Wealth Management LLC Takes Position in Old Dominion Freight Line, Inc. $ODFL

Dynasty Wealth Management LLC purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the fourth quarter, HoldingsChannel reports. The fund purchased 4,882 shares of the transportation company’s stock, valued at approximately $765,000.

Other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. raised its stake in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after buying an additional 98 shares in the last quarter. DT Investment Partners LLC raised its stake 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 worth $33,000 after buying an additional 180 shares in the last quarter. Torren Management LLC bought a new position in Old Dominion Freight Line in the fourth quarter worth about $41,000. Raiffeisen Bank International AG bought a new position in Old Dominion Freight Line in the third quarter worth about $37,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Old Dominion Freight Line in the fourth quarter worth about $50,000. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ODFL. Rothschild & Co Redburn decreased their price target on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Evercore set a $219.00 target price on shares of Old Dominion Freight Line in a report on Thursday, April 30th. The Goldman Sachs Group set a $216.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a report on Thursday, April 30th. Wells Fargo & Company boosted their target price on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group boosted their target price on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $207.08.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $236.06 on Thursday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $236.84. The company has a 50 day simple moving average of $207.60 and a two-hundred day simple moving average of $184.29. The company has a market capitalization of $49.09 billion, a price-to-earnings ratio of 49.39, a P/E/G ratio of 4.69 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share 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 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%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 earnings per share. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is 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 (DPR) is 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction that occurred on 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 owned 88,551 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is 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.