Old Dominion Freight Line, Inc. $ODFL Stock Acquired by Valley National Advisers Inc.

Valley National Advisers Inc. boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1,502.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,074 shares of the transportation company’s stock after acquiring an additional 12,258 shares during the quarter. Valley National Advisers Inc.’s holdings in Old Dominion Freight Line were worth $2,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $3,416,007,000. Bank of New York Mellon Corp purchased a new stake in shares of Old Dominion Freight Line during the second quarter worth about $543,289,000. Legal & General Group Plc purchased a new stake in Old Dominion Freight Line in the 2nd quarter worth approximately $253,155,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Old Dominion Freight Line by 14.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock worth $241,367,000 after acquiring an additional 142,809 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Old Dominion Freight Line by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,104,713 shares of the transportation company’s stock worth $215,808,000 after purchasing an additional 12,245 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Key Old Dominion Freight Line News

Here are the key news stories impacting Old Dominion Freight Line this week:

• Positive Sentiment: Old Dominion declared a quarterly dividend of $0.29 per share, payable December 16 to shareholders of record December 2. The payout provides modest income support, although the approximately 0.6% yield is unlikely to be a major stock catalyst. Old Dominion dividend announcement
• Positive Sentiment: Analysts expect strong year-over-year earnings growth in the upcoming report, while Zacks says Old Dominion’s history of earnings beats and current estimate trends could support another upside surprise. Old Dominion earnings estimate analysis
• Neutral Sentiment: Institutional positioning is mixed: 510 investors added shares in the latest quarter, while 448 reduced positions. Several large funds made sizable purchases, but other major holders cut exposure, offering no clear consensus signal.
• Neutral Sentiment: Analyst price targets remain materially above the current trading level, with a reported six-month median target of $234, but recent target reductions suggest expectations are becoming more cautious.
• Negative Sentiment: Investors appear cautious before the October 28 earnings release. August revenue per day increased 12.4%, helped by pricing, but tons per day fell 0.9% and shipments per day declined 2.4%, raising concerns about underlying freight demand. Old Dominion shares and freight signals
• Negative Sentiment: A separate analysis argues that ODFL looks expensive relative to its cash-flow generation, increasing downside risk if earnings or guidance fail to exceed elevated expectations. Old Dominion valuation analysis
• Negative Sentiment: Higher fuel costs are creating a broader competitive disadvantage for trucking companies versus railroads, potentially pressuring operating margins across the freight sector. Railroads and fuel costs

Insiders Place Their Bets

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the company’s stock in a transaction 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 sale, the senior vice president owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ODFL shares. Wall Street Zen cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Sunday. BMO Capital Markets set a $235.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, October 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $227.00 price objective (down from $250.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $244.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a research report on Wednesday, July 29th. Finally, Evercore reaffirmed an “outperform” rating and set a $243.00 price target (up from $237.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $223.48.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $182.70 on Friday. The stock has a fifty day simple moving average of $186.11 and a two-hundred day simple moving average of $207.29. The firm has a market capitalization of $37.88 billion, a PE ratio of 35.20, a PEG ratio of 3.02 and a beta of 1.20. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.14. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.86 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is presently 22.35%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.