Aberdeen Group plc Purchases 11,410 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Aberdeen Group plc boosted its stake in Old Dominion Freight Line by 10.7%, purchasing 11,410 shares to hold 117,589 shares worth about $18.44 million.
• Old Dominion slightly beat expectations with $1.09 EPS (vs. $1.06) and $1.31B revenue (vs. $1.30B) despite revenue falling 5.7% year‑over‑year, and the company raised its quarterly dividend to $0.29 (annualized $1.16, ~0.6% yield).
• Insider selling has been notable (80,134 shares, ~$15.64M sold in the last three months, including the chairman's 52,000‑share sale), and analysts' consensus is a Hold with an average target of $191.38 while the stock trades near $202 (market cap ~$42.1B, P/E ~41.9).

Aberdeen Group plc grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,589 shares of the transportation company's stock after acquiring an additional 11,410 shares during the period. Aberdeen Group plc owned 0.06% of Old Dominion Freight Line worth $18,438,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ODFL. Vanguard Group Inc. increased its holdings in shares of Old Dominion Freight Line by 2.2% in the third quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company's stock valued at $3,273,546,000 after purchasing an additional 494,674 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Old Dominion Freight Line by 21.6% in the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company's stock valued at $614,764,000 after purchasing an additional 776,004 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Old Dominion Freight Line by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company's stock valued at $499,007,000 after purchasing an additional 622,275 shares in the last quarter. Boston Partners acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $292,599,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Old Dominion Freight Line by 6.2% in the third quarter. Lazard Asset Management LLC now owns 2,054,044 shares of the transportation company's stock valued at $289,168,000 after purchasing an additional 120,564 shares in the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 2.1%

Shares of NASDAQ ODFL opened at $202.18 on Tuesday. The firm has a market cap of $42.14 billion, a PE ratio of 41.86, a PEG ratio of 4.18 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 1-year low of $126.01 and a 1-year high of $221.63. The company has a fifty day moving average price of $192.35 and a 200 day moving average price of $163.99.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were given a dividend of $0.29 per share. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line's payout ratio is presently 24.02%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Susquehanna reissued a "neutral" rating and issued a $205.00 price target (up from $185.00) on shares of Old Dominion Freight Line in a report on Wednesday, February 11th. Truist Financial set a $225.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Benchmark reaffirmed a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Old Dominion Freight Line in a report on Thursday, February 19th. Finally, Barclays set a $185.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and an average target price of $191.38.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the business's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the sale, the director directly owned 11,278 shares of the company's stock, valued at $2,190,977.06. The trade was a 21.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 52,000 shares of the business's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the sale, the chairman directly owned 712,800 shares in the company, valued at $138,832,056. This trade represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,134 shares of company stock valued at $15,640,132 in the last three months. 10.00% of the stock is currently owned by corporate insiders.

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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