7,976 Shares of Old Dominion Freight Line, Inc. $ODFL Bought by Westwind Capital

Westwind Capital purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, Holdings Channel reports. The fund purchased 7,976 shares of the transportation company’s stock, valued at approximately $1,387,000.

A number of other hedge funds also recently bought and sold shares of ODFL. Bell Investment Advisors Inc purchased a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $25,000. Solstein Capital LLC acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares in the last quarter. Reflection Asset Management acquired a new position in Old Dominion Freight Line during the fourth quarter worth $28,000. Finally, Evolution Wealth Management Inc. purchased a new position in Old Dominion Freight Line during the first quarter valued at $29,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 3.4%

ODFL traded up $6.04 during trading on Thursday, reaching $181.65. The company’s stock had a trading volume of 1,564,705 shares, compared to its average volume of 2,009,517. The firm has a fifty day simple moving average of $192.78 and a two-hundred day simple moving average of $207.88. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The company has a market cap of $37.67 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 2.98 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business earned $1.27 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.79 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is presently 22.35%.

Analysts Set New Price Targets

ODFL has been the topic of several research analyst reports. Evercore reiterated an “outperform” rating and issued a $243.00 target price (up from $237.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. UBS Group reissued a “neutral” rating and set a $228.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th. Barclays raised their target price on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $231.00 to $223.00 in a research note on Tuesday, September 8th. Finally, Argus boosted their price target on Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $223.48.

Insider Activity

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president owned 22,746 shares in the company, valued at $4,512,578.94. The trade was a 46.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is owned by company insiders.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a transportation and logistics company that specializes in regional, inter-regional and national less-than-truckload (LTL) services. The company transports shipments that do not require an entire truck, serving commercial, industrial and retail customers across the United States.

Its services include standard and expedited LTL transportation, freight brokerage, supply chain consulting, container drayage and warehousing. Old Dominion supports customers through a network of service centers, terminals and distribution facilities, providing pickup, line-haul and delivery capabilities for a broad range of freight.

Founded in 1934 by Earl Congdon, the company is headquartered in Thomasville, North Carolina.