Old Dominion Freight Line, Inc. $ODFL Shares Sold by Cwm LLC

Key Points

• Cwm LLC trimmed its stake in Old Dominion by 26.5% in Q4, selling 5,106 shares and leaving 14,140 shares valued at about $2.22 million.
• Company insiders sold a total of 80,134 shares (roughly $15.64 million) in the past 90 days — including Earl E. Congdon (25,000 shares) and Chairman David S. Congdon (52,000 shares) — leaving insiders with about 10% ownership.
• Analysts are mixed with an average rating of Hold and an average price target of $196.33, while ODFL traded near $219.98; the firm slightly beat quarterly EPS estimates, reported revenue down 5.7% year‑over‑year, and raised its quarterly dividend to $0.29.

Cwm LLC trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 26.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,140 shares of the transportation company's stock after selling 5,106 shares during the period. Cwm LLC's holdings in Old Dominion Freight Line were worth $2,217,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Old Dominion Freight Line by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company's stock valued at $3,273,546,000 after acquiring an additional 494,674 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Old Dominion Freight Line by 21.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company's stock worth $614,764,000 after acquiring an additional 776,004 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Old Dominion Freight Line by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company's stock worth $499,007,000 after acquiring an additional 622,275 shares during the last quarter. Boston Partners acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at about $292,599,000. Finally, Lazard Asset Management LLC increased its stake in Old Dominion Freight Line by 6.2% during the third quarter. Lazard Asset Management LLC now owns 2,054,044 shares of the transportation company's stock worth $289,168,000 after acquiring an additional 120,564 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ODFL shares. Argus raised Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $220.00 target price on the stock in a research note on Thursday, February 12th. Susquehanna reaffirmed a "neutral" rating and set a $205.00 price objective (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Citigroup raised their price objective on shares of Old Dominion Freight Line from $216.00 to $218.00 and gave the stock a "neutral" rating in a report on Tuesday, April 7th. Jefferies Financial Group raised their price objective on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, Zacks Research raised Old Dominion Freight Line from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $196.33.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of the company's stock in a transaction on Thursday, February 26th. The stock was 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 of the company's stock, valued at approximately $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,134 shares of company stock valued at $15,640,132 in the last ninety days. 10.00% of the stock is currently owned by company insiders.

Old Dominion Freight Line Stock Down 1.3%

Shares of Old Dominion Freight Line stock opened at $219.98 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $227.08. The company's 50-day simple moving average is $199.23 and its 200-day simple moving average is $170.77. The firm has a market cap of $45.82 billion, a price-to-earnings ratio of 45.54, a price-to-earnings-growth ratio of 4.67 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. Equities research analysts anticipate 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. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.29 per share. This is a boost 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 0.5%. Old Dominion Freight Line's dividend payout ratio is currently 24.02%.

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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