Osmosis Investment Management UK Ltd Buys Shares of 5,088 Old Dominion Freight Line, Inc. $ODFL

Key Points

• Osmosis Investment Management UK Ltd initiated a position in Old Dominion Freight Line, buying 5,088 shares valued at approximately $1.1 million. Institutional investors and hedge funds collectively own 77.82% of ODFL.
• Old Dominion reported quarterly earnings of $1.68 per share, exceeding estimates of $1.54, while revenue rose 10.4% year over year to $1.55 billion. The company also declared a $0.29 quarterly dividend, representing a 0.6% yield.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $226.55, compared with the stock’s reported price of $201.48.

Osmosis Investment Management UK Ltd bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,088 shares of the transportation company's stock, valued at approximately $1,102,000.

Several other institutional investors also recently modified their holdings of ODFL. AustralianSuper Pty Ltd lifted its holdings in Old Dominion Freight Line by 955.4% during the fourth quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company's stock worth $11,761,000 after acquiring an additional 67,898 shares in the last quarter. Summitry LLC increased its holdings in shares of Old Dominion Freight Line by 5.4% in the fourth quarter. Summitry LLC now owns 218,175 shares of the transportation company's stock worth $34,210,000 after acquiring an additional 11,223 shares in the last quarter. Partners Group Holding AG increased its holdings in shares of Old Dominion Freight Line by 37.0% in the fourth quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company's stock worth $30,518,000 after acquiring an additional 52,514 shares in the last quarter. M&T Bank Corp raised its position in shares of Old Dominion Freight Line by 76.3% during the fourth quarter. M&T Bank Corp now owns 15,204 shares of the transportation company's stock worth $2,384,000 after purchasing an additional 6,582 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Old Dominion Freight Line by 15,188.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 407,885 shares of the transportation company's stock worth $63,956,000 after purchasing an additional 405,217 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

ODFL opened at $201.48 on Tuesday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The firm has a market capitalization of $41.78 billion, a PE ratio of 38.82, a PEG ratio of 3.59 and a beta of 1.18. The business's 50-day simple moving average is $219.49 and its 200 day simple moving average is $210.71.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.14. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $1.27 earnings per share. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 22.35%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ODFL. The Goldman Sachs Group reiterated a "buy" rating and issued a $244.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Argus raised their target price on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. UBS Group reaffirmed a "neutral" rating and issued a $228.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Robert W. Baird set a $229.00 price target on shares of Old Dominion Freight Line and gave the company a "neutral" rating in a report on Tuesday, April 28th. Finally, Stifel Nicolaus set a $263.00 price objective on shares of Old Dominion Freight Line and gave the company a "buy" rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $226.55.

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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