Inspire Investing LLC Reduces Stake in Old Dominion Freight Line, Inc. $ODFL

Inspire Investing LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,018 shares of the transportation company’s stock after selling 2,864 shares during the period. Old Dominion Freight Line accounts for approximately 0.6% of Inspire Investing LLC’s investment portfolio, making the stock its 25th biggest holding. Inspire Investing LLC’s holdings in Old Dominion Freight Line were worth $7,038,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ boosted its holdings in Old Dominion Freight Line by 6.9% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 62,054 shares of the transportation company’s stock valued at $12,125,000 after purchasing an additional 4,010 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Old Dominion Freight Line by 9.2% during the first quarter. Apollon Wealth Management LLC now owns 5,832 shares of the transportation company’s stock worth $1,140,000 after purchasing an additional 493 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $317,000. Janney Montgomery Scott LLC lifted its position in shares of Old Dominion Freight Line by 7.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 40,426 shares of the transportation company’s stock worth $7,899,000 after buying an additional 2,720 shares during the last quarter. Finally, Lewis Asset Management LLC acquired a new position in shares of Old Dominion Freight Line in the 1st quarter valued at $225,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.4%

Shares of ODFL opened at $219.69 on Tuesday. The firm has a market cap of $45.69 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 4.39 and a beta of 1.17. The company’s 50 day simple moving average is $218.86 and its 200-day simple moving average is $196.01. Old Dominion Freight Line, Inc. has a 12-month low of $126.01 and a 12-month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.14 EPS 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 business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company posted $1.19 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend 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 presently 24.27%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction 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 transaction, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ODFL. Jefferies Financial Group increased their target price on shares of 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. Citigroup cut shares of Old Dominion Freight Line from a “neutral” rating to a “sell” rating and boosted their price target for the company from $225.00 to $228.00 in a research report on Monday, June 15th. Raymond James Financial restated an “outperform” rating and issued a $224.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Morgan Stanley set a $235.00 price objective on Old Dominion Freight Line and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus lifted their target price on Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $218.57.

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.