WINTON GROUP Ltd Acquires 8,016 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• WINTON GROUP Ltd more than doubled its stake in Old Dominion Freight Line in the fourth quarter, adding 8,016 shares to bring its total holdings to 15,497 shares worth about $2.43 million.
• Institutional ownership remains heavy, with 77.82% of ODFL shares held by institutions. Several other investors also recently increased or initiated positions in the trucking company.
• Analysts are mixed on the stock: the consensus rating is “Hold” with an average price target of $208.33, even as some firms such as Raymond James and Stephens reiterated bullish ratings and higher targets.

WINTON GROUP Ltd grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 107.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,497 shares of the transportation company's stock after acquiring an additional 8,016 shares during the quarter. WINTON GROUP Ltd's holdings in Old Dominion Freight Line were worth $2,430,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ODFL. DT Investment Partners LLC increased its holdings in shares of Old Dominion Freight Line by 600.0% in the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock worth $33,000 after acquiring an additional 180 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line in the third quarter worth about $37,000. Torren Management LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $41,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $50,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Old Dominion Freight Line in the third quarter worth about $55,000. 77.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ODFL shares. Raymond James Financial restated an "outperform" rating and issued a $224.00 price target on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Stephens reiterated an "overweight" rating and set a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. TD Cowen reiterated a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday. Susquehanna increased their price objective on Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a "neutral" rating in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus increased their price objective on Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average target price of $208.33.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 22,107 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the transaction, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.00% of the company's stock.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $242.57 on Monday. The company has a market cap of $50.45 billion, a PE ratio of 50.75, a PEG ratio of 4.92 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $249.14. The stock has a 50-day simple moving average of $209.88 and a 200 day simple moving average of $185.89.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share. On average, research analysts predict that Old Dominion Freight Line, Inc. will post 5.37 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company 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 $0.29 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 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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