B. Metzler seel. Sohn & Co. AG Sells 9,714 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• B. Metzler seel. Sohn & Co. AG trimmed its stake in Old Dominion Freight Line by 33.5%, selling 9,714 shares in Q4 and now holding 19,305 shares worth about $3.03 million.
• Insiders have been net sellers: Chairman David S. Congdon sold 52,000 shares for roughly $10.13 million, and insiders disposed of 80,134 shares (~$15.64 million) in the last 90 days, leaving insiders with about 10% ownership.
• Analyst and market snapshot: the consensus rating is a Hold with an average target of $196.33; the stock trades near $219.98 with a market cap of ~$45.8 billion and a P/E around 45.5.

B. Metzler seel. Sohn & Co. AG trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 33.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,305 shares of the transportation company's stock after selling 9,714 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Old Dominion Freight Line were worth $3,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ODFL. Diversified Trust Co. grew its stake in Old Dominion Freight Line by 1.7% in the fourth quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company's stock valued at $609,000 after purchasing an additional 65 shares during the last quarter. Modera Wealth Management LLC grew its stake in Old Dominion Freight Line by 2.7% in the fourth quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company's stock valued at $434,000 after purchasing an additional 72 shares during the last quarter. Cim LLC grew its stake in shares of Old Dominion Freight Line by 1.0% during the third quarter. Cim LLC now owns 7,685 shares of the transportation company's stock worth $1,082,000 after acquiring an additional 75 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock worth $275,000 after acquiring an additional 79 shares during the last quarter. Finally, YANKCOM Partnership lifted its stake in shares of Old Dominion Freight Line by 9.8% during the fourth quarter. YANKCOM Partnership now owns 931 shares of the transportation company's stock worth $146,000 after buying an additional 83 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 52,000 shares of the firm'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 completion of the transaction, the chairman directly owned 712,800 shares in the company, valued at $138,832,056. This trade represents a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the firm's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the transaction, the director owned 11,278 shares of the company's stock, valued at $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Robert W. Baird lowered Old Dominion Freight Line from a "neutral" rating to an "underperform" rating and upped their target price for the company from $166.00 to $204.00 in a research report on Thursday, February 5th. JPMorgan Chase & Co. upped their target price on Old Dominion Freight Line from $182.00 to $183.00 and gave the company a "neutral" rating in a research report on Tuesday, April 7th. Wolfe Research upped their target price on Old Dominion Freight Line from $183.00 to $185.00 and gave the company an "underperform" rating in a research report on Tuesday, April 7th. Zacks Research upgraded Old Dominion Freight Line from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 10th. Finally, Rothschild & Co Redburn upped their target price on Old Dominion Freight Line from $114.00 to $176.00 and gave the stock a "sell" rating in a research note on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of "Hold" and an average target price of $196.33.

Old Dominion Freight Line Trading Down 1.3%

Shares of ODFL opened at $219.98 on Friday. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $227.08. The firm has a 50-day moving average price of $199.23 and a 200 day moving average price of $170.77. The firm has a market capitalization of $45.82 billion, a P/E ratio of 45.54, a P/E/G ratio of 4.67 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) 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 the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The company's quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $1.23 EPS. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.13 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, March 4th. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.28. Old Dominion Freight Line's dividend payout ratio is 24.02%.

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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