Flossbach Von Storch SE Lowers Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Flossbach Von Storch SE reduced its position in Old Dominion Freight Line by 11.5% in Q4, selling 15,482 shares and ending the period with 118,843 shares (about 0.06% of the company) valued at $18.64 million.
• Old Dominion reported Q4 EPS of $1.09 (vs. $1.06 consensus) on $1.31 billion in revenue (down 5.7% YoY) and raised its quarterly dividend to $0.29 ($1.16 annual, ~0.5% yield).
• Corporate insiders sold a total of 80,134 shares (~$15.64 million) in the last 90 days (notably Earl E. Congdon and Chairman David S. Congdon), while analysts show a mixed view—consensus rating "Hold" with an average price target of about $197 (9 Buy / 14 Hold / 3 Sell).

Flossbach Von Storch SE trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 11.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 118,843 shares of the transportation company's stock after selling 15,482 shares during the quarter. Flossbach Von Storch SE owned about 0.06% of Old Dominion Freight Line worth $18,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Verdence Capital Advisors LLC boosted its stake in Old Dominion Freight Line by 1.2% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company's stock valued at $812,000 after purchasing an additional 60 shares during the last quarter. Diversified Trust Co. boosted its holdings in shares of Old Dominion Freight Line by 1.7% during the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company's stock valued at $609,000 after acquiring an additional 65 shares during the last quarter. Modera Wealth Management LLC grew its stake in shares of 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 worth $434,000 after acquiring an additional 72 shares during the period. Cim LLC grew its stake in shares of Old Dominion Freight Line by 1.0% in 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 period. Finally, Brighton Jones LLC raised its holdings 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 valued at $275,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Trading Up 0.3%

Shares of NASDAQ ODFL opened at $220.53 on Tuesday. 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 market capitalization of $45.93 billion, a price-to-earnings ratio of 45.66, a price-to-earnings-growth ratio of 4.61 and a beta of 1.20. The firm has a 50 day moving average of $199.77 and a 200 day moving average of $171.72.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm earned $1.23 earnings per share. The company's quarterly revenue was down 5.7% on a year-over-year basis. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.13 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a $0.29 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.28. Old Dominion Freight Line's payout ratio is presently 24.02%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the transaction, the chairman directly owned 712,800 shares of the company's stock, valued at $138,832,056. This trade represents a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,134 shares of company stock worth $15,640,132 in the last 90 days. 10.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ODFL shares. BMO Capital Markets restated an "outperform" rating on shares of Old Dominion Freight Line in a report on Thursday, February 19th. The Goldman Sachs Group boosted their target price on shares of Old Dominion Freight Line from $195.00 to $198.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Raymond James Financial increased their price target on Old Dominion Freight Line from $180.00 to $213.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Wells Fargo & Company upgraded Old Dominion Freight Line from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $165.00 to $200.00 in a research note on Tuesday, April 7th. Finally, Susquehanna reaffirmed a "neutral" rating and issued a $205.00 price objective (up from $185.00) on shares of Old Dominion Freight Line in a report on Wednesday, February 11th. Nine analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $197.38.

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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