Meeder Asset Management Inc. Takes Position in Old Dominion Freight Line, Inc. (ODFL)

Meeder Asset Management Inc. purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,208 shares of the transportation company’s stock, valued at approximately $243,000.

Several other institutional investors and hedge funds have also modified their holdings of ODFL. Janus Henderson Group PLC bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $266,855,000. William Blair Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 7.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock worth $250,063,000 after acquiring an additional 191,911 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Old Dominion Freight Line by 8.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock worth $199,998,000 after acquiring an additional 157,362 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Old Dominion Freight Line by 8.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,923,369 shares of the transportation company’s stock worth $183,182,000 after acquiring an additional 151,407 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Old Dominion Freight Line by 100.3% during the 1st quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock worth $25,619,000 after acquiring an additional 149,951 shares in the last quarter. 73.77% of the stock is owned by institutional investors.

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In related news, Vice Chairman David S. Congdon sold 575 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total value of $56,252.25. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.00% of the company’s stock.

Old Dominion Freight Line, Inc. (ODFL) opened at 123.84 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $72.99 and a 52-week high of $124.13. The firm’s 50-day moving average is $107.72 and its 200-day moving average is $96.51. The company has a market capitalization of $10.20 billion, a PE ratio of 32.07 and a beta of 1.09.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, October 26th. The transportation company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. The business had revenue of $872.99 million during the quarter, compared to analyst estimates of $855.85 million. Old Dominion Freight Line had a return on equity of 17.09% and a net margin of 10.43%. Old Dominion Freight Line’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post $4.21 EPS for the current year.

Several research firms recently weighed in on ODFL. Robert W. Baird reissued a “hold” rating and issued a $113.00 target price on shares of Old Dominion Freight Line in a research note on Friday, October 6th. BidaskClub cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Cowen and Company reissued a “hold” rating and issued a $100.00 target price on shares of Old Dominion Freight Line in a research note on Friday, September 1st. Buckingham Research began coverage on shares of Old Dominion Freight Line in a research note on Monday, August 21st. They issued a “neutral” rating and a $105.00 target price for the company. Finally, KeyCorp reissued a “buy” rating and issued a $115.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $108.23.

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.

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

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