Gamco Investors INC. ET AL Makes New $784,000 Investment in Old Dominion Freight Line, Inc. $ODFL

Gamco Investors INC. ET AL purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the transportation company’s stock, valued at approximately $784,000.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Old Dominion Freight Line by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock worth $499,007,000 after buying an additional 622,275 shares during the period. Truist Financial Corp grew its stake in Old Dominion Freight Line by 12.9% during the 3rd quarter. Truist Financial Corp now owns 88,119 shares of the transportation company’s stock valued at $12,405,000 after acquiring an additional 10,046 shares in the last quarter. Wilson Asset Management International PTY Ltd. purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at about $4,307,000. Atlantic Union Bankshares Corp purchased a new position in Old Dominion Freight Line during the 3rd quarter valued at about $1,999,000. Finally, Citigroup Inc. grew its stake in Old Dominion Freight Line by 46.4% during the 3rd quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock valued at $146,507,000 after acquiring an additional 329,895 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the transaction, the insider directly owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The SEC filing for this sale provides additional information. 10.00% of the stock is owned by company insiders.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $210.47 on Friday. The firm has a market cap of $43.77 billion, a P/E ratio of 44.03, a P/E/G ratio of 4.25 and a beta of 1.17. The stock’s 50-day moving average is $201.08 and its 200-day moving average is $179.25. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (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 analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $1.19 EPS. Old Dominion Freight Line’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. 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 report on Thursday, April 30th. Stephens restated an “overweight” rating and set a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $224.00 price objective 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 assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $206.29.

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.