Castleark Management LLC Sells 5,502 Shares of Old Dominion Freight Line, Inc. (ODFL)

Castleark Management LLC reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,883 shares of the transportation company’s stock after selling 5,502 shares during the period. Castleark Management LLC owned 0.19% of Old Dominion Freight Line worth $14,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Old Dominion Freight Line by 11,389.2% during the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after buying an additional 5,353,843 shares in the last quarter. Vanguard Group Inc. raised its holdings in Old Dominion Freight Line by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,372,428 shares of the transportation company’s stock valued at $511,669,000 after buying an additional 54,645 shares in the last quarter. Janus Henderson Group PLC bought a new position in Old Dominion Freight Line during the second quarter valued at about $266,855,000. Janus Capital Management LLC raised its holdings in Old Dominion Freight Line by 1.0% during the first quarter. Janus Capital Management LLC now owns 2,789,817 shares of the transportation company’s stock valued at $238,725,000 after buying an additional 27,397 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Old Dominion Freight Line by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after buying an additional 191,911 shares in the last quarter. Institutional investors own 73.84% of the company’s stock.

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In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 575 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total value of $56,252.25. Following the transaction, the insider now directly owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.00% of the stock is owned by corporate insiders.

ODFL has been the topic of several recent research reports. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Tuesday, July 11th. Credit Suisse Group restated an “outperform” rating and set a $109.00 target price (up from $101.00) on shares of Old Dominion Freight Line in a report on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and set a $91.00 target price on shares of Old Dominion Freight Line in a report on Friday, July 14th. Finally, Deutsche Bank AG lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their target price for the company from $108.00 to $98.00 in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $101.25.

Old Dominion Freight Line, Inc. (NASDAQ ODFL) traded up 0.58% during trading on Wednesday, hitting $109.00. The stock had a trading volume of 131,265 shares. The stock has a 50 day moving average price of $102.93 and a 200 day moving average price of $94.15. Old Dominion Freight Line, Inc. has a 12-month low of $68.82 and a 12-month high of $110.45. The company has a market capitalization of $8.98 billion, a price-to-earnings ratio of 28.24 and a beta of 1.09.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The firm had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post $4.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were issued a $0.10 dividend. The ex-dividend date was Friday, September 1st. This represents a $0.40 annualized dividend and a yield of 0.37%. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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