Flossbach Von Storch SE Cuts Stock Position in Old Dominion Freight Line, Inc. $ODFL

Flossbach Von Storch SE lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 118,843 shares of the transportation company’s stock after selling 15,482 shares during the period. Flossbach Von Storch SE’s holdings in Old Dominion Freight Line were worth $18,635,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Boston Partners bought a new position in Old Dominion Freight Line during the third quarter valued at $292,599,000. Two Sigma Investments LP raised its position in shares of Old Dominion Freight Line by 637.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock valued at $221,935,000 after buying an additional 1,362,697 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Old Dominion Freight Line by 21.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after buying an additional 776,004 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Old Dominion Freight Line by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after acquiring an additional 622,275 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 134.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 982,066 shares of the transportation company’s stock valued at $138,255,000 after acquiring an additional 563,254 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL opened at $220.53 on Tuesday. The stock’s 50 day moving average price is $199.77 and its 200-day moving average price is $171.72. Old Dominion Freight Line, Inc. has a one year low of $126.01 and a one year high of $227.08. The stock has a market cap of $45.93 billion, a price-to-earnings ratio of 45.66, a P/E/G ratio of 4.61 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.Old Dominion Freight Line’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.13 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.29 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, March 4th. Old Dominion Freight Line’s payout ratio is presently 24.02%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Argus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective on the stock in a research note on Thursday, February 12th. TD Cowen raised their price objective on Old Dominion Freight Line from $167.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $195.00 to $198.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Zacks Research raised Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Citigroup raised their price target on Old Dominion Freight Line from $216.00 to $218.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $197.38.

Insider Transactions at Old Dominion Freight Line

In related news, Director Bradley R. Gabosch sold 3,134 shares of the firm’s 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 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 filing with the SEC, which is accessible through the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 80,134 shares of company stock worth $15,640,132. Insiders own 10.00% of the company’s stock.

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.