TD Asset Management Inc Has $187.26 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

TD Asset Management Inc grew its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 45.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,194,256 shares of the transportation company’s stock after purchasing an additional 374,552 shares during the period. TD Asset Management Inc’s holdings in Old Dominion Freight Line were worth $187,259,000 at the end of the most recent quarter.

A number of other hedge funds have 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% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after acquiring an additional 98 shares during the last quarter. DT Investment Partners LLC raised its position in shares of Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after acquiring an additional 180 shares during the last quarter. Torren Management LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $41,000. Raiffeisen Bank International AG bought a new position in shares of Old Dominion Freight Line during the third quarter worth about $37,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $50,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ODFL. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday. Morgan Stanley set a $235.00 price objective on Old Dominion Freight Line and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Raymond James Financial restated an “outperform” rating and set a $224.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Robert W. Baird set a $229.00 price objective on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $207.08.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director directly 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 SEC, which can be accessed through this hyperlink. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $245.52 on Friday. The company has a market cap of $51.06 billion, a P/E ratio of 51.36, a PEG ratio of 4.81 and a beta of 1.17. The stock has a 50 day simple moving average of $208.81 and a two-hundred day simple moving average of $185.09. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $245.78.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share 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 the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. On average, research analysts predict that Old Dominion Freight Line, Inc. will post 5.35 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a $0.29 dividend. 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 payout ratio is presently 24.27%.

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.