China Universal Asset Management Co. Ltd. Raises Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

China Universal Asset Management Co. Ltd. boosted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 108.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,718 shares of the transportation company’s stock after purchasing an additional 1,412 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Old Dominion Freight Line were worth $540,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in shares of Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after acquiring an additional 1,017 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its position in shares of Old Dominion Freight Line by 98.3% in the first quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock valued at $22,127,000 after acquiring an additional 50,019 shares in the last quarter. Truist Financial Corp lifted its position in shares of Old Dominion Freight Line by 7.6% in the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after acquiring an additional 7,460 shares in the last quarter. Forsta AP Fonden lifted its position in shares of Old Dominion Freight Line by 65.0% in the first quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock valued at $8,685,000 after acquiring an additional 15,600 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Old Dominion Freight Line by 98.6% in the first quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after acquiring an additional 21,438 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,975 shares of company stock worth $9,386,158. Corporate insiders own 9.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent research reports. Robert W. Baird cut their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. BMO Capital Markets cut their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Stephens reissued an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their target price for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Finally, Bank of America cut their target price 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. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $196.39.

Old Dominion Freight Line Trading Up 0.2 %

NASDAQ:ODFL opened at $201.31 on Wednesday. The business’s 50-day moving average is $195.60 and its two-hundred day moving average is $189.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.46. 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 market capitalization of $43.74 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 4.23 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

About Old Dominion Freight Line

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.