Central Pacific Bank Trust Division Boosts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Central Pacific Bank Trust Division raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,858 shares of the transportation company’s stock after acquiring an additional 179 shares during the period. Central Pacific Bank Trust Division’s holdings in Old Dominion Freight Line were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its position in Old Dominion Freight Line by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 2,091 shares of the transportation company’s stock worth $369,000 after buying an additional 226 shares during the last quarter. Versant Capital Management Inc lifted its position in Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 110 shares during the period. Principal Financial Group Inc. boosted its holdings in Old Dominion Freight Line by 26.9% in the 3rd quarter. Principal Financial Group Inc. now owns 421,140 shares of the transportation company’s stock valued at $83,655,000 after purchasing an additional 89,395 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Old Dominion Freight Line during the 3rd quarter worth approximately $27,625,000. Finally, Retirement Systems of Alabama lifted its holdings in shares of Old Dominion Freight Line by 5.2% in the 3rd quarter. Retirement Systems of Alabama now owns 41,348 shares of the transportation company’s stock valued at $8,213,000 after buying an additional 2,044 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $180.91 on Friday. The stock has a fifty day moving average price of $205.07 and a 200 day moving average price of $197.06. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The firm has a market capitalization of $38.62 billion, a P/E ratio of 31.63, a PEG ratio of 4.21 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted $1.54 EPS. The company’s revenue was down 3.0% on a year-over-year basis. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research analyst reports. TD Cowen cut their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. BMO Capital Markets dropped their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $204.00.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line 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.