APG Asset Management N.V. Invests $1.60 Million in Old Dominion Freight Line (NASDAQ:ODFL)

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APG Asset Management N.V. acquired a new stake in Old Dominion Freight Line (NASDAQ:ODFL) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,400 shares of the transportation company’s stock, valued at approximately $1,595,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $285,000. Bank of Montreal Can boosted its holdings in Old Dominion Freight Line by 371.3% during the fourth quarter. Bank of Montreal Can now owns 47,039 shares of the transportation company’s stock valued at $8,926,000 after acquiring an additional 37,058 shares during the period. Mackay Shields LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $1,836,000. Schroder Investment Management Group increased its stake in shares of Old Dominion Freight Line by 928.6% in the fourth quarter. Schroder Investment Management Group now owns 58,375 shares of the transportation company’s stock worth $11,078,000 after purchasing an additional 52,700 shares during the period. Finally, TD Asset Management Inc. lifted its position in shares of Old Dominion Freight Line by 532.8% during the 4th quarter. TD Asset Management Inc. now owns 18,199 shares of the transportation company’s stock worth $3,454,000 after purchasing an additional 15,323 shares during the last quarter. Hedge funds and other institutional investors own 73.54% of the company’s stock.

Shares of ODFL stock opened at $164.67 on Wednesday. The stock’s fifty day simple moving average is $161.81 and its 200 day simple moving average is $174.98. Old Dominion Freight Line has a one year low of $93.34 and a one year high of $171.77. The firm has a market cap of $19.42 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 3.78 and a beta of 1.06.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, April 23rd. The transportation company reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.01). Old Dominion Freight Line had a net margin of 14.99% and a return on equity of 20.85%. The company had revenue of $987.36 million for the quarter, compared to the consensus estimate of $982.15 million. During the same period in the previous year, the business posted $1.64 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. As a group, research analysts anticipate that Old Dominion Freight Line will post 4.55 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.36%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 11.74%.

Several brokerages have commented on ODFL. Credit Suisse Group lifted their price target on Old Dominion Freight Line from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Bank of America cut shares of Old Dominion Freight Line from a “neutral” rating to an “underperform” rating in a research note on Sunday, April 19th. BidaskClub lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Thursday, June 4th. Deutsche Bank boosted their price objective on shares of Old Dominion Freight Line from $125.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, Citigroup reduced their target price on shares of Old Dominion Freight Line from $132.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $133.86.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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