Worthington Financial Partners LLC Makes New Investment in Old Dominion Freight Line, Inc. $ODFL

Worthington Financial Partners LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,821 shares of the transportation company’s stock, valued at approximately $599,000.

Several other large investors have also made changes to their positions in ODFL. Reflection Asset Management bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $28,000. DT Investment Partners LLC increased its position in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after acquiring an additional 180 shares during the period. DV Equities LLC acquired a new position in Old Dominion Freight Line during the 4th quarter valued at $40,000. Torren Management LLC acquired a new position in Old Dominion Freight Line during the 4th quarter valued at $41,000. Finally, Raiffeisen Bank International AG bought a new stake in Old Dominion Freight Line in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $221.04 on Friday. The firm has a fifty day moving average of $217.66 and a 200-day moving average of $192.73. The stock has a market cap of $45.97 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 4.44 and a beta of 1.17. 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 announced its quarterly 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. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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

Analyst Ratings Changes

ODFL has been the topic of several research reports. Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Rothschild & Co Redburn reduced their target price 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. Stephens reissued an “overweight” rating and set a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Susquehanna boosted their price target on Old Dominion Freight Line from $205.00 to $224.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. Finally, Barclays set a $210.00 price target on Old Dominion Freight Line and gave the company an “equal weight” rating in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $217.30.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the company’s 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 in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.00% of the company’s stock.

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.