Harber Asset Management LLC Has $8.76 Million Holdings in Old Dominion Freight Line, Inc. $ODFL

Harber Asset Management LLC raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 50.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,884 shares of the transportation company’s stock after acquiring an additional 18,680 shares during the quarter. Old Dominion Freight Line comprises approximately 3.7% of Harber Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Harber Asset Management LLC’s holdings in Old Dominion Freight Line were worth $8,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DT Investment Partners LLC increased its position in Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares in the last quarter. Torren Management LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Raiffeisen Bank International AG acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $37,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $50,000. Finally, State of Wyoming acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ODFL. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Wells Fargo & Company set a $235.00 price objective on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research report on Friday, June 5th. Robert W. Baird set a $229.00 price objective on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Stifel Nicolaus raised their price objective on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Finally, TD Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $215.43.

Old Dominion Freight Line Stock Down 0.8%

Shares of Old Dominion Freight Line stock opened at $245.75 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The business has a fifty day simple moving average of $215.16 and a 200 day simple moving average of $189.53. The stock has a market cap of $51.11 billion, a PE ratio of 51.41, a price-to-earnings-growth ratio of 4.97 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts expect that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. Old Dominion Freight Line’s payout ratio is currently 24.27%.

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.