Old Dominion Freight Line, Inc. $ODFL Shares Purchased by Strs Ohio

Key Points

• Strs Ohio increased its stake in Old Dominion by 26.6%, buying 26,408 shares to hold 125,664 shares worth $19.7 million, and institutional investors now own about 77.82% of the stock.
• Old Dominion posted a Q1 beat—revenue of $1.335 billion and EPS of $1.14 versus $1.05 expected—which prompted analyst target hikes but mixed ratings and valuation concerns that have pressured the share price.
• Company insiders sold 80,134 shares (~$15.6 million) in the last quarter even as the firm raised its quarterly dividend to $0.29 (annualized $1.16, ~0.6% yield); insiders still own roughly 10% of the company.

Strs Ohio boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 125,664 shares of the transportation company's stock after buying an additional 26,408 shares during the quarter. Strs Ohio owned 0.06% of Old Dominion Freight Line worth $19,704,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ODFL. E Fund Management Hong Kong Co. Ltd. grew its position in Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company's stock worth $27,000 after buying an additional 123 shares during the last quarter. Westside Investment Management Inc. grew its position in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company's stock worth $27,000 after buying an additional 98 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line in the third quarter worth approximately $37,000. Torren Management LLC acquired a new position in Old Dominion Freight Line in the fourth quarter worth approximately $41,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Key Old Dominion Freight Line News

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

• Positive Sentiment: Q1 beat: ODFL reported revenue of $1.335B and net income of $238.3M, with EPS above street estimates — a fundamental beat that prompted analyst upside and supports longer-term earnings expectations. Trucking firm Old Dominion beats profit estimates as pricing improves
• Positive Sentiment: Analysts lifted forecasts and targets after the quarter, signaling improved near-term outlook from some shops — this supports upside potential if execution continues. Old Dominion Freight Line Analysts Increase Their Forecasts Following Strong Q1 Earnings
• Positive Sentiment: Macro/industry optimism — some coverage pointed to hopes for an industrial activity rebound fueling demand for freight services, which can be a tailwind if sustained. Old Dominion Freight Line (ODFL) Surged on Optimism Over Industrial Activity Rebound
• Neutral Sentiment: Stifel raised its price target to $232 (largest upside among recent changes), a constructive signal but not a rating change. Stifel adjusts price target on Old Dominion Freight Line to $232 from $228
• Neutral Sentiment: UBS raised its target to $216 but kept a "neutral" rating — modest upside implied, so limited near-term catalyst from that call. UBS adjusts Old Dominion Freight Line price target to $216 from $202; maintains neutral rating
• Neutral Sentiment: Wells Fargo nudged its target to $205 and left an "equal weight" rating — essentially a hold view that tempers upside expectations. Wells Fargo raises price target to $205
• Neutral Sentiment: Analyst commentary flagged valuation risk despite solid fundamentals — a caution that the stock may face volatility until growth/volume trends clear. Old Dominion Freight: Solid Fundamentals, But Valuation Shows Bumpy Roads Ahead
• Negative Sentiment: JPMorgan raised its PT to $197 but kept a neutral rating — that target sits below recent levels and signals downside risk if the market focuses on valuation. JPMorgan raises price target to $197
• Negative Sentiment: Near-term selling appears driven by mixed analyst stances and valuation concerns despite the beat; coverage explaining today's dip highlights profit-taking and re-pricing versus some new, lower-relative targets. Why Old Dominion Freight Line (ODFL) shares are trading lower today

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ODFL shares. Wolfe Research raised their price objective on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an "underperform" rating in a research note on Tuesday, April 7th. UBS Group lifted their price objective on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the stock a "neutral" rating in a research report on Thursday. Stifel Nicolaus lifted their price objective on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday. Citigroup reiterated a "neutral" rating and set a $225.00 price objective (up from $218.00) on shares of Old Dominion Freight Line in a research report on Thursday. Finally, Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the stock a "neutral" rating in a research report on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $203.96.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the sale, the insider directly owned 2,162,113 shares of the company's stock, valued at $424,055,222.69. This trade represents a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 80,134 shares of company stock valued at $15,640,132 in the last quarter. Company insiders own 10.00% of the company's stock.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $205.81 on Monday. Old Dominion Freight Line, Inc. has a twelve month low of $126.01 and a twelve month high of $233.79. The stock has a market cap of $42.87 billion, a price-to-earnings ratio of 43.06, a PEG ratio of 4.22 and a beta of 1.17. The firm's 50 day moving average price is $201.00 and its two-hundred day moving average price is $173.39.

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 the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.31 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a dividend of $0.29 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 0.6%. Old Dominion Freight Line's dividend payout ratio (DPR) is 24.27%.

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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