Royal London Asset Management Ltd. Sells 3,547 Shares of Old Dominion Freight Line, Inc. $ODFL

Royal London Asset Management Ltd. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 271,171 shares of the transportation company’s stock after selling 3,547 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Old Dominion Freight Line were worth $58,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ODFL. Bell Investment Advisors Inc purchased a new position in Old Dominion Freight Line in the 2nd quarter worth approximately $25,000. Solstein Capital LLC bought a new position in Old Dominion Freight Line in the 2nd quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Reflection Asset Management purchased a new stake in Old Dominion Freight Line during the 4th quarter valued at $28,000. Finally, Evolution Wealth Management Inc. bought a new stake in shares of Old Dominion Freight Line in the 1st quarter worth $29,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In other Old Dominion Freight Line news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the sale, the senior vice president directly owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $198.63 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. The business’s 50-day moving average is $217.58 and its two-hundred day moving average is $210.52. The company has a market cap of $41.19 billion, a price-to-earnings ratio of 38.27, a P/E/G ratio of 3.45 and a beta of 1.18.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm posted $1.27 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.78 earnings per share 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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s payout ratio is 22.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ODFL. Stifel Nicolaus set a $263.00 price target on Old Dominion Freight Line and gave the company a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and set a $241.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. Finally, UBS Group restated a “neutral” rating and set a $228.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $226.55.

About Old Dominion Freight Line

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.