Inspire Investing LLC Boosts Stake in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Inspire Investing LLC increased its stake in Old Dominion Freight Line by 68.5% in the fourth quarter, ending with 38,882 shares valued at about $6.1 million.
• Old Dominion’s latest earnings beat expectations, with quarterly EPS of $1.14 versus the $1.05 estimate and revenue of $1.33 billion, though sales were still down 2.9% year over year.
• The stock has drawn mixed sentiment from analysts, with the overall consensus at “Hold” and an average target price of $215.57; meanwhile, director Greg C. Gantt sold 22,107 shares in May.

Inspire Investing LLC lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 68.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,882 shares of the transportation company's stock after acquiring an additional 15,808 shares during the quarter. Inspire Investing LLC's holdings in Old Dominion Freight Line were worth $6,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ODFL. DT Investment Partners LLC lifted its stake in Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock valued at $33,000 after buying an additional 180 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $37,000. DV Equities LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $40,000. Torren Management LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $50,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the sale, the director owned 88,551 shares of the company's stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.00% of the company's stock.

Old Dominion Freight Line Trading Down 5.7%

Old Dominion Freight Line stock opened at $218.36 on Thursday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $252.03. The stock's fifty day simple moving average is $216.95 and its 200-day simple moving average is $191.92. The firm has a market capitalization of $45.41 billion, a P/E ratio of 45.68, a P/E/G ratio of 4.69 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. The company's revenue was down 2.9% on a year-over-year basis. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.38 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Rothschild & Co Redburn dropped their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a "sell" rating for the company in a report on Tuesday, May 12th. Jefferies Financial Group lifted their target price on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the company a "hold" rating in a report on Tuesday, June 9th. Wells Fargo & Company set a $235.00 target price on shares of Old Dominion Freight Line and gave the company an "equal weight" rating in a report on Friday, June 5th. Stephens reiterated an "overweight" rating and issued a $240.00 target price (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Finally, The Goldman Sachs Group set a $216.00 target price on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and an average target price of $215.57.

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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