Assenagon Asset Management S.A. Has $1.97 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Assenagon Asset Management S.A. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 44.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,167 shares of the transportation company’s stock after selling 8,911 shares during the period. Assenagon Asset Management S.A.’s holdings in Old Dominion Freight Line were worth $1,970,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in Old Dominion Freight Line by 3.8% during the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after acquiring an additional 279,946 shares during the period. Geode Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Old Dominion Freight Line by 109.5% during the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Old Dominion Freight Line by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after purchasing an additional 57,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Old Dominion Freight Line by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after buying an additional 78,587 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $188.79 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50 day moving average price of $197.39 and a 200 day moving average price of $197.86. The stock has a market capitalization of $40.31 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 5.05 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the business earned $1.54 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets decreased their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Evercore ISI decreased their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus lowered their price objective on shares of Old Dominion Freight Line from $178.00 to $176.00 and set a “hold” rating for the company in a research report on Wednesday, January 15th. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $201.50.

Insider Activity

In other news, 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 value of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.