2,305 Shares in Old Dominion Freight Line, Inc. $ODFL Acquired by OneAscent Financial Services LLC

OneAscent Financial Services LLC bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,305 shares of the transportation company’s stock, valued at approximately $361,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $444,983,000. Boston Partners acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $292,599,000. Two Sigma Investments LP increased its position in shares of Old Dominion Freight Line by 637.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after purchasing an additional 1,362,697 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $188,651,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Old Dominion Freight Line by 21.6% during the 3rd 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. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity

In related news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction on 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 sale, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research analyst reports. The Goldman Sachs Group set a $216.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Thursday, February 12th. JPMorgan Chase & Co. increased their target price on shares of Old Dominion Freight Line from $183.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Citigroup reaffirmed a “neutral” rating and set a $225.00 target price (up from $218.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Finally, Evercore set a $219.00 target price on shares of Old Dominion Freight Line 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $208.33.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $242.57 on Monday. The company has a market capitalization of $50.45 billion, a PE ratio of 50.75, a P/E/G ratio of 4.92 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $249.14. The business’s fifty day moving average price is $209.88 and its 200 day moving average price is $185.89.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.37 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. Investors of record on Wednesday, June 3rd will be issued 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 payout ratio is currently 24.27%.

Old Dominion Freight Line 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.