Old Dominion Freight Line, Inc. $ODFL Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 43.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 121,217 shares of the transportation company’s stock after purchasing an additional 36,447 shares during the period. Sei Investments Co.’s holdings in Old Dominion Freight Line were worth $23,686,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $444,983,000. Boston Partners bought a new position in Old Dominion Freight Line in the third quarter worth about $292,599,000. Price T Rowe Associates Inc. MD boosted its stake in Old Dominion Freight Line by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock valued at $2,230,318,000 after acquiring an additional 1,761,511 shares during the period. Two Sigma Investments LP boosted its stake in Old Dominion Freight Line by 637.5% in the third quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock valued at $221,935,000 after acquiring an additional 1,362,697 shares during the period. Finally, Life Cycle Investment Partners Ltd bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $188,651,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ODFL has been the topic of a number of research reports. Rothschild & Co Redburn dropped their price target on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a research report on Tuesday, May 12th. Argus boosted their price objective on Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Stifel Nicolaus set a $256.00 price objective on Old Dominion Freight Line and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Susquehanna increased their target price on Old Dominion Freight Line from $224.00 to $228.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Old Dominion Freight Line in a research note on Friday, July 10th. Ten research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $223.04.

Old Dominion Freight Line Trading Down 0.2%

Shares of NASDAQ:ODFL opened at $226.28 on Wednesday. The firm’s 50 day moving average is $226.38 and its two-hundred day moving average is $205.89. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $252.03. The firm has a market capitalization of $47.06 billion, a P/E ratio of 47.34, a PEG ratio of 4.09 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.19 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.56 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.27%.

Insiders Place Their Bets

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 stock was 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 of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.