Logan Capital Management Inc. Has $14.19 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Logan Capital Management Inc. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F 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 period. Logan Capital Management Inc.’s holdings in Old Dominion Freight Line were worth $14,192,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ODFL. Vanguard Group Inc. lifted its position in shares of Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock worth $3,273,546,000 after buying an additional 494,674 shares during the period. CIBC Private Wealth Group LLC grew its position in 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 valued at $614,764,000 after acquiring an additional 776,004 shares during the period. JPMorgan Chase & Co. grew its position in Old Dominion Freight Line by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after acquiring an additional 622,275 shares during the period. Goldman Sachs Group Inc. raised its stake in Old Dominion Freight Line by 23.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,314,157 shares of the transportation company’s stock worth $519,660,000 after acquiring an additional 639,769 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $444,983,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the business’s 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 sale, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $247.76 on Friday. The company has a 50 day moving average price of $214.24 and a 200 day moving average price of $189.13. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. 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 (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.19 EPS. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.38 earnings per share 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 given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 24.27%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ODFL shares. Stephens reaffirmed an “overweight” rating and issued a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. UBS Group boosted their price target on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. The Goldman Sachs Group set a $216.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Susquehanna raised their price objective on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Finally, Evercore set a $219.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Eight 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. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $215.43.

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.