Ossiam Boosts Position in Old Dominion Freight Line, Inc. $ODFL

Ossiam raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3,535.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,929 shares of the transportation company’s stock after acquiring an additional 120,520 shares during the period. Ossiam owned approximately 0.06% of Old Dominion Freight Line worth $17,447,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sirios Capital Management L P increased its stake in shares of Old Dominion Freight Line by 59.5% in the third quarter. Sirios Capital Management L P now owns 115,315 shares of the transportation company’s stock worth $16,234,000 after acquiring an additional 43,007 shares during the period. Marathon Capital Management acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $207,000. NorthRock Partners LLC increased its holdings in shares of Old Dominion Freight Line by 33.0% during the 3rd quarter. NorthRock Partners LLC now owns 3,147 shares of the transportation company’s stock valued at $443,000 after purchasing an additional 780 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Old Dominion Freight Line by 7.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 12,899 shares of the transportation company’s stock valued at $1,815,000 after purchasing an additional 889 shares during the period. Finally, Perbak Capital Partners LLP acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at $1,081,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $180.75 on Friday. The stock has a 50 day moving average price of $186.93 and a 200 day moving average price of $159.19. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $221.63. The stock has a market capitalization of $37.67 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 3.70 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share 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 company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $1.23 EPS. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be paid a $0.29 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s payout ratio is 24.02%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wolfe Research set a $138.00 price target on shares of Old Dominion Freight Line in a report on Thursday, January 8th. UBS Group reissued a “neutral” rating and set a $202.00 target price (up from $164.00) on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Robert W. Baird lowered Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $166.00 to $204.00 in a research note on Thursday, February 5th. Stephens reaffirmed an “overweight” rating and issued a $232.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Susquehanna reiterated a “neutral” rating and set a $205.00 price target (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $191.08.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. This represents a 21.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the transaction, the chairman directly owned 712,800 shares in the company, valued at $138,832,056. This trade represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 80,134 shares of company stock worth $15,640,132. 10.00% of the stock is owned by insiders.

Old Dominion Freight Line Company 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.