Inspire Investing LLC Sells 4,470 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Inspire Investing LLC trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 14.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,186 shares of the transportation company’s stock after selling 4,470 shares during the period. Inspire Investing LLC’s holdings in Old Dominion Freight Line were worth $4,624,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Independent Advisor Alliance grew its position in Old Dominion Freight Line by 13.0% during the 4th quarter. Independent Advisor Alliance now owns 811 shares of the transportation company’s stock worth $329,000 after purchasing an additional 93 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 1.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,413 shares of the transportation company’s stock worth $5,031,000 after purchasing an additional 138 shares during the period. UBS Group AG boosted its position in Old Dominion Freight Line by 24.5% in the fourth quarter. UBS Group AG now owns 258,652 shares of the transportation company’s stock valued at $104,839,000 after buying an additional 50,946 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Old Dominion Freight Line by 8.6% in the 4th quarter. Wells Fargo & Company MN now owns 149,092 shares of the transportation company’s stock worth $60,431,000 after buying an additional 11,820 shares during the period. Finally, Trexquant Investment LP acquired a new position in Old Dominion Freight Line in the 4th quarter worth approximately $3,472,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Raymond James lifted their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Morgan Stanley lowered their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. TD Cowen cut their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a report on Friday, September 6th. Finally, Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $201.83.

Old Dominion Freight Line Trading Up 1.1 %

Shares of ODFL stock opened at $196.75 on Thursday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The stock’s fifty day moving average is $195.55 and its two-hundred day moving average is $195.94. The firm has a market capitalization of $42.75 billion, a P/E ratio of 34.64, a PEG ratio of 3.92 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. Old Dominion Freight Line’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 earnings per share. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a $0.26 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line 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.