Mawer Investment Management Ltd. Acquires Shares of 19,484 Old Dominion Freight Line, Inc. $ODFL

Mawer Investment Management Ltd. bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,484 shares of the transportation company’s stock, valued at approximately $3,055,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ODFL. Westside Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. DT Investment Partners LLC raised its position in shares of 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 buying an additional 180 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $37,000. Torren Management LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $41,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $50,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

ODFL stock opened at $229.08 on Wednesday. The company has a 50 day simple moving average of $205.73 and a 200 day simple moving average of $182.95. The stock has a market cap of $47.64 billion, a price-to-earnings ratio of 47.92, a P/E/G ratio of 4.68 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given 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 is Wednesday, June 3rd. Old Dominion Freight Line’s dividend 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 company’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 directly owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several analyst reports. Truist Financial set a $225.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Evercore set a $219.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Argus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday, February 12th. UBS Group boosted their target price on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, Zacks Research upgraded shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $207.08.

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.