Old Dominion Freight Line, Inc. $ODFL Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 36,018 shares of the transportation company’s stock after selling 2,864 shares during the period. Old Dominion Freight Line makes up approximately 0.6% of Inspire Investing LLC’s investment portfolio, making the stock its 25th largest position. Inspire Investing LLC’s holdings in Old Dominion Freight Line were worth $7,038,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ODFL. Norges Bank acquired a new position in Old Dominion Freight Line during the fourth quarter worth $444,983,000. Boston Partners acquired a new stake in shares of Old Dominion Freight Line in the third quarter valued at $292,599,000. Price T Rowe Associates Inc. MD grew its stake in shares of Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after buying an additional 1,761,511 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Old Dominion Freight Line by 637.5% in the 3rd quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock valued at $221,935,000 after buying an additional 1,362,697 shares during the period. Finally, Life Cycle Investment Partners Ltd purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $188,651,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $219.69 on Tuesday. The stock has a 50-day simple moving average of $218.86 and a 200-day simple moving average of $196.01. The stock has a market capitalization of $45.69 billion, a PE ratio of 45.96, a PEG ratio of 4.39 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 $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced 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. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is 24.27%.

Analysts Set New Price Targets

ODFL has been the subject of several research reports. Evercore set a $219.00 target price on Old Dominion Freight Line in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, June 3rd. Wolfe Research upped their target price on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 7th. Finally, Rothschild & Co Redburn reduced their target price on shares of Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $218.57.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This represents a 19.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 10.00% of the stock is owned by company insiders.

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.