Old Dominion Freight Line, Inc. $ODFL Shares Acquired by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 113.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 753,997 shares of the transportation company’s stock after purchasing an additional 400,079 shares during the period. Epoch Investment Partners Inc.’s holdings in Old Dominion Freight Line were worth $118,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Advisory Inc. lifted its position in Old Dominion Freight Line by 28.0% during the 4th quarter. Brown Advisory Inc. now owns 486,366 shares of the transportation company’s stock worth $76,262,000 after acquiring an additional 106,287 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Old Dominion Freight Line by 35.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 451,948 shares of the transportation company’s stock worth $70,865,000 after acquiring an additional 119,046 shares in the last quarter. Alamea Verwaltungs GmbH acquired a new position in Old Dominion Freight Line during the 4th quarter worth approximately $527,000. Jacobi Capital Management LLC lifted its position in Old Dominion Freight Line by 3.3% during the 4th quarter. Jacobi Capital Management LLC now owns 3,188 shares of the transportation company’s stock worth $500,000 after acquiring an additional 102 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its position in Old Dominion Freight Line by 26.4% during the 4th quarter. CreativeOne Wealth LLC now owns 9,683 shares of the transportation company’s stock worth $1,518,000 after acquiring an additional 2,025 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the company’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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.00% of the stock is currently owned by insiders.

Old Dominion Freight Line Stock Down 0.8%

Shares of ODFL opened at $245.75 on Friday. The business’s 50 day moving average is $215.16 and its two-hundred day moving average is $189.53. 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 market cap of $51.11 billion, a price-to-earnings ratio of 51.41, a PEG ratio of 4.97 and a beta of 1.17.

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 company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $1.19 EPS. Old Dominion Freight Line’s quarterly revenue was down 2.9% on a year-over-year basis. On average, 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders 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 dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 24.27%.

Analysts Set New Price Targets

Several equities analysts recently commented on ODFL shares. Jefferies Financial Group boosted their price target on Old Dominion Freight Line from $230.00 to $250.00 and gave the stock a “hold” rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. boosted their price target on Old Dominion Freight Line from $197.00 to $234.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Morgan Stanley set a $235.00 price target on Old Dominion Freight Line and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wolfe Research boosted their price target on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 7th. Finally, Citigroup reissued a “neutral” rating and set a $225.00 price target (up from $218.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus 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.