USS Investment Management Ltd Has $9 Million Position in Old Dominion Freight Line, Inc. $ODFL

USS Investment Management Ltd raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 9.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,079 shares of the transportation company’s stock after purchasing an additional 4,059 shares during the quarter. USS Investment Management Ltd’s holdings in Old Dominion Freight Line were worth $9,000,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ODFL. Deseret Mutual Benefit Administrators grew its holdings in shares of Old Dominion Freight Line by 9.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after buying an additional 57 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in Old Dominion Freight Line by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after acquiring an additional 60 shares in the last quarter. Diversified Trust Co. lifted its position in Old Dominion Freight Line by 1.7% in the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after acquiring an additional 65 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Old Dominion Freight Line by 5.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,443 shares of the transportation company’s stock valued at $282,000 after purchasing an additional 69 shares during the last quarter. Finally, CNB Bank boosted its stake in Old Dominion Freight Line by 2.3% during the 4th quarter. CNB Bank now owns 3,127 shares of the transportation company’s stock valued at $490,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the company’s 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 sale, the director directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ODFL. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, June 4th. Jefferies Financial Group lifted their target price on Old Dominion Freight Line from $230.00 to $250.00 and gave the company a “hold” rating in a research report on Tuesday, June 9th. Morgan Stanley set a $235.00 price target on Old Dominion Freight Line and gave the stock an “overweight” rating in a report on Thursday, April 30th. Barclays increased their price target on Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Finally, Evercore upgraded Old Dominion Freight Line from an “in-line” rating to an “outperform” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $218.57.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $217.96 on Thursday. Old Dominion Freight Line, Inc. has a 1 year low of $126.01 and a 1 year high of $252.03. The company has a market capitalization of $45.33 billion, a PE ratio of 45.60, a price-to-earnings-growth ratio of 4.34 and a beta of 1.18. The business has a fifty day moving average price of $218.73 and a two-hundred day moving average price of $196.84.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company posted $1.19 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.44 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 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.