Roundview Capital LLC Has $3.68 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

Key Points

• Roundview Capital LLC boosted its stake in Old Dominion Freight Line by 36.3% in the fourth quarter, bringing its holdings to 23,442 shares worth about $3.68 million.
• Recent insider activity included sales by Earl E. Congdon and Director Greg C. Gantt, while institutional investors still hold a large majority of the stock at 77.82%.
• Old Dominion Freight Line reported better-than-expected Q1 earnings with EPS of $1.14 versus estimates of $1.05, and it also announced a quarterly dividend of $0.29 per share payable June 17.

Roundview Capital LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 36.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,442 shares of the transportation company's stock after purchasing an additional 6,247 shares during the period. Roundview Capital LLC's holdings in Old Dominion Freight Line were worth $3,676,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company's stock valued at $27,000 after purchasing an additional 98 shares during the period. Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line during the 3rd quarter valued at about $37,000. Torren Management LLC acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $41,000. Kohmann Bosshard Financial Services LLC acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $50,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Old Dominion Freight Line during the 3rd quarter valued at about $55,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Earl E. Congdon sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the sale, the insider directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director directly owned 88,551 shares of the company's stock, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.00% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $216.61 on Wednesday. The company has a market capitalization of $45.05 billion, a price-to-earnings ratio of 45.32, a P/E/G ratio of 4.31 and a beta of 1.17. The firm's 50 day simple moving average is $202.49 and its 200 day simple moving average is $180.56. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $1.31 billion. During the same period in the prior year, the business earned $1.19 EPS. Old Dominion Freight Line's revenue for the quarter was down 2.9% compared to the same quarter last year. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line's dividend payout ratio is presently 24.27%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ODFL. 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 research report on Tuesday, April 28th. Wells Fargo & Company increased their price target on shares of Old Dominion Freight Line from $200.00 to $205.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Morgan Stanley set a $235.00 price target on shares of Old Dominion Freight Line and gave the company an "overweight" rating in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and set a $205.00 price target on the stock. in a research report on Thursday, February 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $206.29.

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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