Lombard Odier Asset Management USA Corp Boosts Stock Holdings in Old Dominion Freight Line, Inc. $ODFL

Lombard Odier Asset Management USA Corp boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 237.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,781 shares of the transportation company’s stock after buying an additional 6,886 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Old Dominion Freight Line were worth $1,534,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators grew its stake in 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 acquiring an additional 57 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Old Dominion Freight Line by 1.2% during the fourth 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. grew its stake in Old Dominion Freight Line by 1.7% during the fourth 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. CNB Bank grew its stake in Old Dominion Freight Line by 2.3% during the fourth quarter. CNB Bank now owns 3,127 shares of the transportation company’s stock valued at $490,000 after acquiring an additional 71 shares in the last quarter. Finally, Modera Wealth Management LLC grew its stake in Old Dominion Freight Line by 2.7% during the fourth quarter. Modera Wealth Management LLC now owns 2,765 shares of the transportation company’s stock valued at $434,000 after acquiring an additional 72 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $231.62 on Wednesday. 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 50-day moving average of $216.62 and a 200 day moving average of $191.34. The firm has a market capitalization of $48.17 billion, a price-to-earnings ratio of 48.46, a PEG ratio of 4.81 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business posted $1.19 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.38 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the stock a “hold” rating in a research note on Tuesday, June 9th. Evercore set a $219.00 target price on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Stifel Nicolaus raised their target price on shares of Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Finally, Morgan Stanley set a $235.00 target price on shares of Old Dominion Freight Line and gave the stock an “overweight” rating in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $215.57.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line 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 completion of the sale, the director owned 88,551 shares in the company, valued at $16,959,287.52. This trade represents a 19.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.00% of the stock is owned by insiders.

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.