Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Clarius Group LLC

Posted by Defense World Staff on Apr 8th, 2023

Clarius Group LLC cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 774 shares of the transportation company’s stock after selling 56 shares during the period. Clarius Group LLC’s holdings in Old Dominion Freight Line were worth $220,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mutual Advisors LLC grew its stake in Old Dominion Freight Line by 2.3% in the fourth quarter. Mutual Advisors LLC now owns 1,545 shares of the transportation company’s stock worth $438,000 after purchasing an additional 34 shares in the last quarter. D.A. Davidson & CO. grew its stake in Old Dominion Freight Line by 2.1% in the third quarter. D.A. Davidson & CO. now owns 1,765 shares of the transportation company’s stock worth $439,000 after purchasing an additional 37 shares in the last quarter. Signaturefd LLC grew its stake in Old Dominion Freight Line by 1.7% in the third quarter. Signaturefd LLC now owns 2,276 shares of the transportation company’s stock worth $566,000 after purchasing an additional 38 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in Old Dominion Freight Line by 6.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 633 shares of the transportation company’s stock worth $198,000 after purchasing an additional 39 shares in the last quarter. Finally, CWM LLC grew its stake in Old Dominion Freight Line by 2.6% in the third quarter. CWM LLC now owns 1,734 shares of the transportation company’s stock worth $431,000 after purchasing an additional 44 shares in the last quarter. 73.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ODFL. Deutsche Bank Aktiengesellschaft decreased their price target on Old Dominion Freight Line from $396.00 to $373.00 in a research note on Monday, March 20th. Morgan Stanley decreased their price target on Old Dominion Freight Line from $340.00 to $339.00 and set an “equal weight” rating for the company in a research note on Tuesday. KeyCorp lifted their target price on Old Dominion Freight Line from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Citigroup lifted their target price on Old Dominion Freight Line from $275.00 to $380.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. Finally, StockNews.com assumed coverage on Old Dominion Freight Line in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $341.05.

Insider Buying and Selling

In related news, Director Bradley R. Gabosch sold 2,700 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $358.21, for a total transaction of $967,167.00. Following the sale, the director now owns 5,818 shares of the company’s stock, valued at $2,084,065.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, SVP David J. Bates sold 1,208 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $344.71, for a total value of $416,409.68. Following the transaction, the senior vice president now owns 14,082 shares of the company’s stock, valued at $4,854,206.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bradley R. Gabosch sold 2,700 shares of the company’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $358.21, for a total value of $967,167.00. Following the completion of the transaction, the director now directly owns 5,818 shares in the company, valued at approximately $2,084,065.78. The disclosure for this sale can be found here. 10.30% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Performance

ODFL opened at $325.77 on Friday. The business’s 50 day moving average is $343.43 and its 200-day moving average is $306.18. The stock has a market cap of $35.84 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line, Inc. has a twelve month low of $231.31 and a twelve month high of $381.81.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last announced its earnings results on Wednesday, February 1st. The transportation company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.68 by $0.24. Old Dominion Freight Line had a return on equity of 38.60% and a net margin of 22.00%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company earned $2.41 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line, Inc. will post 12.07 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a dividend of $0.40 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $1.60 annualized dividend and a yield of 0.49%. Old Dominion Freight Line’s payout ratio is presently 13.14%.

Old Dominion Freight Line Company Profile

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Old Dominion Freight Line, Inc engages in the provision of regional, inter-regional, and national less-than-truckload services through a single integrated, union-free organization. Its services include container drayage, truckload brokerage, and supply chain consulting. The company was founded by Earl Congdon Sr.