Tobam Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Tobam lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 42.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 870 shares of the transportation company’s stock after purchasing an additional 261 shares during the quarter. Tobam’s holdings in Old Dominion Freight Line were worth $173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODFL. Gulf International Bank UK Ltd raised its holdings in Old Dominion Freight Line by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock valued at $1,858,000 after acquiring an additional 47 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Old Dominion Freight Line by 0.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after purchasing an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the period. Conning Inc. grew its holdings in Old Dominion Freight Line by 5.8% during the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after buying an additional 64 shares in the last quarter. Finally, Syon Capital LLC raised its position in shares of Old Dominion Freight Line by 12.3% during the fourth quarter. Syon Capital LLC now owns 593 shares of the transportation company’s stock valued at $240,000 after buying an additional 65 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Up 0.1 %

Shares of ODFL opened at $194.59 on Friday. The firm has a market capitalization of $42.28 billion, a P/E ratio of 33.35, a P/E/G ratio of 4.06 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The firm has a fifty day moving average price of $194.77 and a 200-day moving average price of $193.71. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $1.33 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.6 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 17.82%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Morgan Stanley cut their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Bank of America dropped their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. Finally, BMO Capital Markets boosted their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $200.83.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.