Swiss Life Asset Management Ltd Buys 5,072 Shares of Old Dominion Freight Line, Inc. $ODFL

Swiss Life Asset Management Ltd lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,788 shares of the transportation company’s stock after purchasing an additional 5,072 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Old Dominion Freight Line were worth $9,402,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. YANKCOM Partnership lifted its position in Old Dominion Freight Line by 9.1% during the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock worth $133,000 after purchasing an additional 68 shares during the period. Legacy Capital Wealth Partners LLC grew its stake in Old Dominion Freight Line by 4.4% during the second quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock worth $272,000 after buying an additional 71 shares in the last quarter. Cim LLC increased its holdings in Old Dominion Freight Line by 1.0% in the 3rd quarter. Cim LLC now owns 7,685 shares of the transportation company’s stock valued at $1,082,000 after buying an additional 75 shares during the period. Brighton Jones LLC increased its holdings in 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 buying an additional 79 shares during the period. Finally, Rothschild Investment LLC raised its position in shares of Old Dominion Freight Line by 8.5% in the 3rd quarter. Rothschild Investment LLC now owns 1,071 shares of the transportation company’s stock valued at $151,000 after buying an additional 84 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ODFL shares. Robert W. Baird lowered shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $166.00 to $204.00 in a research report on Thursday, February 5th. Bank of America set a $165.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, December 18th. UBS Group restated 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. Wolfe Research set a $138.00 target price on Old Dominion Freight Line in a report on Thursday, January 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $209.00 price target (up from $190.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. 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 company. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $191.08.

Old Dominion Freight Line Trading Up 0.9%

Shares of Old Dominion Freight Line stock opened at $183.92 on Friday. The firm’s 50 day moving average is $188.40 and its 200 day moving average is $160.27. The firm has a market capitalization of $38.33 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 3.83 and a beta of 1.23. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio is currently 24.02%.

Insider Activity

In related news, Chairman David S. Congdon sold 52,000 shares of the firm’s stock in a transaction 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 owned 712,800 shares of the company’s stock, valued at $138,832,056. This trade represents a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares in the company, valued at $424,055,222.69. This represents a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 80,134 shares of company stock worth $15,640,132. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line 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.