Ballentine Partners LLC Purchases 96 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ballentine Partners LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,730 shares of the transportation company’s stock after acquiring an additional 96 shares during the period. Ballentine Partners LLC’s holdings in Old Dominion Freight Line were worth $306,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Atwood & Palmer Inc. grew its position in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at $29,000. Finally, Fortitude Family Office LLC lifted its holdings in Old Dominion Freight Line by 103.0% during the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Down 1.2 %

ODFL opened at $188.85 on Thursday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $194.63 and its 200-day moving average price is $196.90. The company has a market cap of $41.03 billion, a P/E ratio of 33.25, a P/E/G ratio of 3.83 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.65 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.55%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent analyst reports. Morgan Stanley reduced their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. BMO Capital Markets boosted their price objective on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered their target price on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Finally, TD Cowen lowered their price objective on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $201.00.

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.