Twin Capital Management Inc. Buys Shares of 3,530 Old Dominion Freight Line, Inc. $ODFL

Twin Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,530 shares of the transportation company’s stock, valued at approximately $690,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reflection Asset Management acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $28,000. Evolution Wealth Management Inc. bought a new stake in Old Dominion Freight Line in the first quarter valued at $29,000. DT Investment Partners LLC increased its position in shares of Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. DV Equities LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth approximately $40,000. Finally, Torren Management LLC bought a new position in Old Dominion Freight Line in the 4th quarter valued at $41,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

ODFL stock opened at $237.15 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. The business’s fifty day moving average price is $221.07 and its two-hundred day moving average price is $201.95. The stock has a market capitalization of $49.32 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 4.07 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.19 EPS. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.55 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ODFL shares. Barclays upped their target price on shares of Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Friday, July 10th. Robert W. Baird set a $229.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a research note on Tuesday, April 28th. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Finally, Stifel Nicolaus boosted their target price on Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $222.00.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.