Sequoia Financial Advisors LLC Increases Stake in Old Dominion Freight Line, Inc. $ODFL

Sequoia Financial Advisors LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 97.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,088 shares of the transportation company’s stock after buying an additional 5,479 shares during the period. Sequoia Financial Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Westside Investment Management Inc. grew its stake in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares during the period. Raiffeisen Bank International AG purchased a new stake in Old Dominion Freight Line in the third quarter worth $37,000. Torren Management LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $41,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $50,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Old Dominion Freight Line in the third quarter worth $55,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity

In other 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 transaction of $4,233,932.64. Following the sale, the director owned 88,551 shares in the company, valued at $16,959,287.52. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 52,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the sale, the chairman owned 712,800 shares in the company, valued at approximately $138,832,056. The trade was a 6.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 102,241 shares of company stock worth $19,874,065. Corporate insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Trading Down 1.6%

NASDAQ ODFL opened at $195.12 on Tuesday. Old Dominion Freight Line, Inc. has a 12 month low of $126.01 and a 12 month high of $233.79. The stock has a market cap of $40.58 billion, a P/E ratio of 40.82, a P/E/G ratio of 4.06 and a beta of 1.17. The stock’s fifty day moving average price is $201.12 and its 200-day moving average price is $175.45.

Old Dominion Freight Line (NASDAQ:ODFL) last released 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 return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial set a $225.00 price target on Old Dominion Freight Line in a research note on Thursday, February 5th. Raymond James Financial reaffirmed an “outperform” rating and issued a $224.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Stephens restated an “overweight” rating and issued a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price objective on the stock. in a report on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $206.46.

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.