4,859 Shares in Old Dominion Freight Line, Inc. $ODFL Bought by Calton & Associates Inc.

Key Points

• Calton & Associates opened a new position in Old Dominion Freight Line, buying 4,859 shares valued at about $762,000 in the fourth quarter.
• Several other institutions also adjusted their ODFL holdings, and institutional ownership stands at 77.82% of the company.
• Old Dominion posted better-than-expected quarterly earnings of $1.14 per share on revenue of $1.33 billion, while analysts currently rate the stock a “Hold” with a consensus price target of $207.08.

Calton & Associates Inc. purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,859 shares of the transportation company's stock, valued at approximately $762,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ODFL. Brighton Jones LLC increased its stake in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after buying an additional 79 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company's stock worth $1,690,000 after buying an additional 5,866 shares during the last quarter. Marshall Wace LLP bought a new stake in Old Dominion Freight Line during the second quarter valued at $7,478,000. Jump Financial LLC bought a new stake in Old Dominion Freight Line during the second quarter valued at $2,891,000. Finally, AXA S.A. increased its stake in Old Dominion Freight Line by 1.2% during the second quarter. AXA S.A. now owns 20,253 shares of the transportation company's stock valued at $3,287,000 after purchasing an additional 238 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.00% of the company's stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent research reports. Citigroup reiterated a "neutral" rating and set a $225.00 target price (up from $218.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Raymond James Financial restated an "outperform" rating and set a $224.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Evercore set a $219.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Argus upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $220.00 price target for the company in a research report on Thursday, February 12th. Finally, TD Cowen restated a "hold" rating on shares of Old Dominion Freight Line in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $207.08.

Old Dominion Freight Line Trading Up 3.0%

Shares of NASDAQ ODFL opened at $236.06 on Thursday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $236.84. The company has a market capitalization of $49.09 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 4.69 and a beta of 1.17. The firm has a 50-day moving average of $207.60 and a two-hundred day moving average of $184.29.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly 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. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company earned $1.19 EPS. Old Dominion Freight Line's revenue was down 2.9% on a year-over-year basis. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. Old Dominion Freight Line's dividend payout ratio is currently 24.27%.

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.

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