iA Global Asset Management Inc. Buys 24,246 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

iA Global Asset Management Inc. increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 102.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,994 shares of the transportation company’s stock after buying an additional 24,246 shares during the period. iA Global Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $10,526,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James & Associates increased its stake in shares of Old Dominion Freight Line by 14.7% during the fourth quarter. Raymond James & Associates now owns 26,184 shares of the transportation company’s stock valued at $10,613,000 after purchasing an additional 3,356 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Old Dominion Freight Line by 149.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 7,929 shares of the transportation company’s stock valued at $3,214,000 after purchasing an additional 4,748 shares in the last quarter. Realta Investment Advisors bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $297,000. Fifth Third Bancorp increased its stake in shares of Old Dominion Freight Line by 7.5% during the fourth quarter. Fifth Third Bancorp now owns 4,073 shares of the transportation company’s stock valued at $1,651,000 after purchasing an additional 283 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $215,000. 77.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ODFL shares. UBS Group raised their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They set an “underweight” rating and a $175.00 price target for the company. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, July 25th. BMO Capital Markets raised their target price on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Bank of America raised their target price on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $202.78.

Old Dominion Freight Line Stock Down 3.3 %

Shares of NASDAQ ODFL traded down $6.98 during midday trading on Thursday, reaching $203.20. 2,033,380 shares of the company’s stock traded hands, compared to its average volume of 1,625,700. The company has a quick ratio of 2.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $182.07 and its 200-day simple moving average is $199.02. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The company has a market cap of $44.15 billion, a price-to-earnings ratio of 35.79, a P/E/G ratio of 3.96 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. Old Dominion Freight Line’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.73 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insiders Place Their Bets

In other news, Director Thomas A. Stith III 550 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Company Profile

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