Markel Group Inc. Raises Stock Position in Old Dominion Freight Line, Inc. $ODFL

Markel Group Inc. boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 429,150 shares of the transportation company’s stock after acquiring an additional 7,500 shares during the period. Markel Group Inc. owned about 0.21% of Old Dominion Freight Line worth $83,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Candriam S.C.A. increased its stake in shares of Old Dominion Freight Line by 7.5% during the first quarter. Candriam S.C.A. now owns 17,493 shares of the transportation company’s stock worth $3,418,000 after purchasing an additional 1,215 shares in the last quarter. Waterfront Wealth Inc. lifted its stake in Old Dominion Freight Line by 5.7% in the 1st quarter. Waterfront Wealth Inc. now owns 8,770 shares of the transportation company’s stock valued at $1,714,000 after buying an additional 476 shares in the last quarter. Peterson Wealth Services boosted its holdings in Old Dominion Freight Line by 3.5% in the 1st quarter. Peterson Wealth Services now owns 18,692 shares of the transportation company’s stock worth $3,652,000 after buying an additional 639 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in Old Dominion Freight Line by 2.1% in the 1st quarter. Kestra Advisory Services LLC now owns 13,979 shares of the transportation company’s stock worth $2,732,000 after buying an additional 281 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its holdings in Old Dominion Freight Line by 24.8% in the 1st quarter. Granite Investment Partners LLC now owns 90,092 shares of the transportation company’s stock worth $17,604,000 after buying an additional 17,887 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the transaction, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded up $1.78 during trading hours on Friday, hitting $227.63. 2,215,670 shares of the company’s stock traded hands, compared to its average volume of 1,661,880. The company has a market capitalization of $47.34 billion, a PE ratio of 47.62, a PEG ratio of 4.16 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The firm’s 50-day moving average is $218.73 and its 200-day moving average is $199.62.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.5 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend 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%.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th. Argus lifted their price target on Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Susquehanna boosted their price target on Old Dominion Freight Line from $205.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. Robert W. Baird set a $229.00 price target on Old Dominion Freight Line and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company raised Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $235.00 to $250.00 in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $220.00.

Old Dominion Freight Line 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.