Erste Asset Management GmbH Increases Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Erste Asset Management GmbH increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 275.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 61,040 shares of the transportation company’s stock after purchasing an additional 44,800 shares during the period. Erste Asset Management GmbH’s holdings in Old Dominion Freight Line were worth $9,573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DT Investment Partners LLC grew its position in shares of Old Dominion Freight Line by 600.0% in the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 shares during the period. Torren Management LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $41,000. Raiffeisen Bank International AG purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at $37,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $50,000. Finally, State of Wyoming purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $57,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup reissued a “neutral” rating and set a $225.00 price target (up from $218.00) on shares of Old Dominion Freight Line in a research report on Thursday, April 30th. Evercore set a $219.00 price target on Old Dominion Freight Line in a research report on Thursday, April 30th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday. Jefferies Financial Group boosted their price target on Old Dominion Freight Line from $210.00 to $230.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Finally, Argus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $209.88.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the transaction, the director 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 document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $247.01 on Tuesday. The stock’s 50-day moving average is $211.06 and its two-hundred day moving average is $186.70. The stock has a market cap of $51.37 billion, a PE ratio of 51.68, a P/E/G ratio of 4.92 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 $250.69.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data 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 company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.37 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is currently 24.27%.

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.