Old Dominion Freight Line, Inc. $ODFL Shares Acquired by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,759 shares of the transportation company’s stock after acquiring an additional 2,509 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Old Dominion Freight Line were worth $9,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Old Dominion Freight Line by 21.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after purchasing an additional 622,275 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Old Dominion Freight Line by 46.4% in the 3rd quarter. Citigroup Inc. now owns 1,040,681 shares of the transportation company’s stock valued at $146,507,000 after purchasing an additional 329,895 shares in the last quarter. Value Partners Investments Inc. increased its holdings in shares of Old Dominion Freight Line by 38.7% in the 4th quarter. Value Partners Investments Inc. now owns 20,103 shares of the transportation company’s stock valued at $3,157,000 after purchasing an additional 5,610 shares in the last quarter. Quantum Capital Management LLC NJ increased its holdings in shares of Old Dominion Freight Line by 26.2% in the 3rd quarter. Quantum Capital Management LLC NJ now owns 594,391 shares of the transportation company’s stock valued at $83,678,000 after purchasing an additional 123,271 shares in the last quarter. Finally, Baillie Gifford & Co. purchased a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $13,322,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

More Old Dominion Freight Line News

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Jefferies raised its price target on Old Dominion Freight Line to $250 from $230, signaling continued confidence in the stock’s long-term value even while keeping a hold rating. Jefferies adjusts PT on Old Dominion Freight Line
• Positive Sentiment: Old Dominion was highlighted on CNBC’s “Final Trades,” which can support investor attention and trading interest in the shares. CNBC Final Trades mention
• Neutral Sentiment: Analysts and commentary suggest the stock has been outperforming parts of the industrials group, but recent coverage also points to a premium valuation after a strong run. Outperforming the industrials sector
• Negative Sentiment: News that Amazon is expanding its less-than-truckload shipping business is pressuring Old Dominion and other freight carriers, raising competition concerns in the LTL market. Amazon expands LTL shipping business
• Negative Sentiment: Another article focused on a fund exit and valuation/risk concerns, reinforcing worries that the stock may be expensive relative to near-term fundamentals. Fund exit puts valuation and risks in focus

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $235.95 on Thursday. The company has a market cap of $49.07 billion, a PE ratio of 49.36, a price-to-earnings-growth ratio of 5.04 and a beta of 1.17. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The company has a 50-day simple moving average of $213.19 and a 200-day simple moving average of $188.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 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 the consensus estimate of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 earnings per share. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.38 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders 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 dividend yield of 0.5%. Old Dominion Freight Line’s payout ratio is 24.27%.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated 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 sale, the director directly owned 88,551 shares in the company, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ODFL shares. Argus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a report on Thursday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a report on Monday. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Rothschild & Co Redburn dropped their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Finally, Morgan Stanley set a $235.00 target price on shares of Old Dominion Freight Line and gave the company an “overweight” rating in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $210.71.

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.