Sanctuary Advisors LLC Has $7.81 Million Position in Old Dominion Freight Line, Inc. $ODFL

Sanctuary Advisors LLC reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,776 shares of the transportation company’s stock after selling 4,814 shares during the quarter. Sanctuary Advisors LLC’s holdings in Old Dominion Freight Line were worth $7,805,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Diversified Trust Co. boosted its holdings in Old Dominion Freight Line by 1.7% during the fourth quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock worth $609,000 after purchasing an additional 65 shares during the last quarter. Modera Wealth Management LLC lifted its position in Old Dominion Freight Line by 2.7% during the 4th quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock worth $434,000 after buying an additional 72 shares in the last quarter. Cim LLC boosted its stake in shares of Old Dominion Freight Line by 1.0% during the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock worth $1,082,000 after buying an additional 75 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares in the last quarter. Finally, YANKCOM Partnership grew its holdings in shares of Old Dominion Freight Line by 9.8% in the 4th quarter. YANKCOM Partnership now owns 931 shares of the transportation company’s stock valued at $146,000 after acquiring an additional 83 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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 that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 sale, the chairman directly owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. This trade represents a 6.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 80,134 shares of company stock valued at $15,640,132. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ODFL shares. Wolfe Research upped their target price on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a report on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Tuesday, April 14th. Citigroup increased their price objective on Old Dominion Freight Line from $216.00 to $218.00 and gave the company a “neutral” rating in a report on Tuesday, April 7th. Raymond James Financial boosted their target price on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $232.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $197.38.

Old Dominion Freight Line Stock Up 0.6%

Shares of Old Dominion Freight Line stock opened at $221.77 on Wednesday. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $227.08. The firm’s 50-day moving average price is $200.34 and its two-hundred day moving average price is $172.33. The company has a market capitalization of $46.19 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 4.62 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. Old Dominion Freight Line’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.13 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

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

About Old Dominion Freight Line

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.