Swiss National Bank Acquires 34,100 Shares of Old Dominion Freight Line, Inc. $ODFL

Swiss National Bank grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.6% in the 1st quarter, HoldingsChannel reports. The firm owned 552,300 shares of the transportation company’s stock after acquiring an additional 34,100 shares during the quarter. Swiss National Bank’s holdings in Old Dominion Freight Line were worth $107,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the period. Reflection Asset Management purchased a new stake in Old Dominion Freight Line in the 4th quarter worth about $28,000. Evolution Wealth Management Inc. bought a new stake in Old Dominion Freight Line in the 1st quarter valued at about $29,000. DT Investment Partners LLC raised its stake in Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares during the period. Finally, DV Equities LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $40,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 0.9%

Shares of Old Dominion Freight Line stock opened at $231.76 on Tuesday. The firm has a market capitalization of $48.20 billion, a PE ratio of 48.49, a price-to-earnings-growth ratio of 4.23 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $252.03. The business’s 50-day moving average price is $222.51 and its 200-day moving average price is $202.98.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its 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. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $1.19 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.55 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup upgraded shares of Old Dominion Freight Line from a “sell” rating to a “neutral” rating and set a $228.00 price target on the stock in a research note on Thursday, July 9th. Morgan Stanley restated an “equal weight” rating and set a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday, July 6th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price target on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Finally, Truist Financial increased their price objective on Old Dominion Freight Line from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $222.00.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.