Sirios Capital Management L P Has $16.23 Million Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Sirios Capital Management L P boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 59.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,315 shares of the transportation company’s stock after buying an additional 43,007 shares during the period. Old Dominion Freight Line makes up approximately 2.1% of Sirios Capital Management L P’s portfolio, making the stock its 16th biggest position. Sirios Capital Management L P owned approximately 0.06% of Old Dominion Freight Line worth $16,234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in Old Dominion Freight Line in the second quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 123 shares in the last quarter. 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 purchasing an additional 98 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Old Dominion Freight Line during the third quarter worth approximately $37,000. Finally, Zions Bancorporation National Association UT lifted its holdings in shares of Old Dominion Freight Line by 273.5% in the 3rd quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock worth $62,000 after purchasing an additional 320 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ODFL. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Raymond James Financial upped their price objective on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $195.00 to $210.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. UBS Group reissued a “neutral” rating and set a $202.00 target price (up from $164.00) on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Finally, Robert W. Baird lowered shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $166.00 to $204.00 in a report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $191.08.

Old Dominion Freight Line Trading Up 2.6%

NASDAQ ODFL opened at $180.75 on Friday. The firm has a market capitalization of $37.67 billion, a P/E ratio of 37.42, a PEG ratio of 3.70 and a beta of 1.23. The business has a fifty day simple moving average of $186.93 and a 200 day simple moving average of $159.19. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month 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 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The business’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the business earned $1.23 EPS. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. Old Dominion Freight Line’s payout ratio is 24.02%.

Insider Activity at Old Dominion Freight Line

In related news, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the transaction, the insider directly owned 2,162,113 shares in the company, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director directly owned 11,278 shares of the company’s stock, valued at $2,190,977.06. The trade was a 21.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,134 shares of company stock valued at $15,640,132 over the last ninety days. 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.