K.J. Harrison & Partners Inc Acquires 5,000 Shares of Old Dominion Freight Line, Inc. $ODFL

K.J. Harrison & Partners Inc boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 54.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,181 shares of the transportation company’s stock after buying an additional 5,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Old Dominion Freight Line were worth $2,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Value Partners Investments Inc. boosted its stake in Old Dominion Freight Line by 38.7% in the 4th quarter. Value Partners Investments Inc. now owns 20,103 shares of the transportation company’s stock worth $3,157,000 after purchasing an additional 5,610 shares during the period. Baillie Gifford & Co. bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $13,322,000. Waterfront Wealth Inc. bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $1,430,000. Quantum Capital Management LLC NJ increased its position in shares of Old Dominion Freight Line by 26.2% during the third quarter. Quantum Capital Management LLC NJ now owns 594,391 shares of the transportation company’s stock valued at $83,678,000 after buying an additional 123,271 shares during the period. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Old Dominion Freight Line by 955.4% in the fourth quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company’s stock worth $11,761,000 after buying an additional 67,898 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ODFL. Rothschild & Co Redburn cut 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 research report on Tuesday, May 12th. TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. UBS Group increased their target price on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $235.00 price target (up from $209.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 23rd. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $218.57.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $217.65 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The firm has a fifty day moving average of $218.55 and a 200 day moving average of $197.40. The firm has a market capitalization of $45.26 billion, a PE ratio of 45.53, a price-to-earnings-growth ratio of 4.36 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS 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 business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.44 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) 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 business’s stock in a transaction that occurred 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 completion of the sale, the director owned 88,551 shares in the company, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.00% of the company’s stock.

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.