Sanctuary Advisors LLC Sells 4,814 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Sanctuary Advisors LLC trimmed its stake in Old Dominion Freight Line by 8.8%, selling 4,814 shares and leaving it with 49,776 shares valued at $7.805 million; institutional investors now own 77.82% of the company.
• Significant insider selling occurred recently — Chairman David Congdon sold 52,000 shares (~$10.13M) and Director Bradley Gabosch sold 3,134 shares, with insiders offloading 80,134 shares (~$15.64M) in the past 90 days (insiders still own 10%).
• Operational and market update: ODFL beat quarterly EPS estimates ($1.09 vs. $1.06) despite revenue down 5.7% YoY, raised its quarterly dividend to $0.29 (annualized $1.16, 0.5% yield), and trades with a market cap of ~$46.2B and a consensus analyst rating of "Hold" (price target ≈ $197).

Sanctuary Advisors LLC lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,776 shares of the transportation company's stock after selling 4,814 shares during the period. Sanctuary Advisors LLC's holdings in Old Dominion Freight Line were worth $7,805,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Marathon Capital Management boosted its position in Old Dominion Freight Line by 23.4% in the fourth quarter. Marathon Capital Management now owns 1,817 shares of the transportation company's stock valued at $285,000 after buying an additional 344 shares in the last quarter. Cherokee Insurance Co raised its stake in shares of Old Dominion Freight Line by 26.7% in the fourth quarter. Cherokee Insurance Co now owns 5,700 shares of the transportation company's stock valued at $894,000 after acquiring an additional 1,200 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Old Dominion Freight Line by 6.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,917 shares of the transportation company's stock worth $928,000 after purchasing an additional 369 shares during the last quarter. HB Wealth Management LLC grew its holdings in Old Dominion Freight Line by 3.2% during the 4th quarter. HB Wealth Management LLC now owns 14,296 shares of the transportation company's stock worth $2,242,000 after acquiring an additional 442 shares during the last quarter. Finally, Caprock Group LLC raised its stake in shares of Old Dominion Freight Line by 37.7% in the fourth quarter. Caprock Group LLC now owns 15,103 shares of the transportation company's stock worth $2,368,000 after acquiring an additional 4,136 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Insider Activity at Old Dominion Freight Line

In related news, Director Bradley R. Gabosch sold 3,134 shares of Old Dominion Freight Line stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David S. Congdon sold 52,000 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the transaction, the chairman owned 712,800 shares of the company's stock, valued at approximately $138,832,056. This represents a 6.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 80,134 shares of company stock worth $15,640,132 in the last ninety days. Company insiders own 10.00% of the company's stock.

Old Dominion Freight Line Stock Up 0.6%

NASDAQ:ODFL opened at $221.77 on Wednesday. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $227.08. The stock's fifty day simple moving average is $200.34 and its 200-day simple moving average is $172.33. The firm has a market capitalization of $46.19 billion, a P/E ratio of 45.92, a P/E/G ratio of 4.62 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The firm's revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.13 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a $0.29 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.28. Old Dominion Freight Line's dividend payout ratio is 24.02%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ODFL. UBS Group reissued a "neutral" rating and issued a $202.00 price target (up from $164.00) on shares of Old Dominion Freight Line in a report on Thursday, February 5th. TD Cowen boosted their target price on Old Dominion Freight Line from $167.00 to $180.00 and gave the stock a "hold" rating in a research report on Thursday, February 5th. Raymond James Financial upped their price target on Old Dominion Freight Line from $180.00 to $213.00 and gave the company an "outperform" rating in a research note on Friday, February 6th. Barclays set a $185.00 price target on Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Citigroup boosted their price objective on Old Dominion Freight Line from $216.00 to $218.00 and gave the stock a "neutral" rating in a report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus price target of $197.38.

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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