Motley Fool Asset Management LLC Grows Stock Position in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Motley Fool Asset Management increased its stake in Old Dominion Freight Line by 27.9% in the fourth quarter, buying 4,747 more shares and bringing its total position to 21,739 shares worth about $3.41 million.
• Old Dominion reported better-than-expected quarterly results, with EPS of $1.14 versus the $1.05 estimate and revenue of $1.33 billion, though revenue was still down 2.9% year over year.
• The company declared a quarterly dividend of $0.29 per share, while analysts currently have a consensus rating of “Hold” and a consensus price target of $210.71 despite several upward target revisions.

Motley Fool Asset Management LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,739 shares of the transportation company's stock after buying an additional 4,747 shares during the quarter. Motley Fool Asset Management LLC's holdings in Old Dominion Freight Line were worth $3,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. DT Investment Partners LLC increased its position in Old Dominion Freight Line by 600.0% in the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock worth $33,000 after buying an additional 180 shares during the last quarter. Torren Management LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $41,000. Raiffeisen Bank International AG purchased a new stake in Old Dominion Freight Line in the third quarter worth $37,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $50,000. Finally, State of Wyoming purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $57,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $235.95 on Thursday. The firm has a market capitalization of $49.07 billion, a price-to-earnings ratio of 49.36, a P/E/G ratio of 5.04 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The stock has a fifty day moving average of $213.19 and a 200 day moving average of $188.33.

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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company's revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.38 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.5%. Old Dominion Freight Line's payout ratio is 24.27%.

Trending Headlines about Old Dominion Freight Line

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Jefferies raised its price target on Old Dominion Freight Line to $250 from $230, signaling continued confidence in the stock’s long-term value even while keeping a hold rating. Jefferies adjusts PT on Old Dominion Freight Line
• Positive Sentiment: Old Dominion was highlighted on CNBC’s “Final Trades,” which can support investor attention and trading interest in the shares. CNBC Final Trades mention
• Neutral Sentiment: Analysts and commentary suggest the stock has been outperforming parts of the industrials group, but recent coverage also points to a premium valuation after a strong run. Outperforming the industrials sector
• Negative Sentiment: News that Amazon is expanding its less-than-truckload shipping business is pressuring Old Dominion and other freight carriers, raising competition concerns in the LTL market. Amazon expands LTL shipping business
• Negative Sentiment: Another article focused on a fund exit and valuation/risk concerns, reinforcing worries that the stock may be expensive relative to near-term fundamentals. Fund exit puts valuation and risks in focus

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated 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 completion of the sale, the director owned 88,551 shares of the company's stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ODFL. Stifel Nicolaus raised their target price on Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Evercore set a $219.00 price target on Old Dominion Freight Line in a report on Thursday, April 30th. UBS Group raised their price target on Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. TD Cowen reaffirmed a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Finally, Morgan Stanley set a $235.00 price objective on Old Dominion Freight Line and gave the company an "overweight" rating in a research note on Thursday, April 30th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $210.71.

Old Dominion Freight Line Profile

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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