Middleton & Co. Inc. MA Has $4.68 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Middleton & Co. Inc. MA grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,508 shares of the transportation company’s stock after acquiring an additional 126 shares during the period. Middleton & Co. Inc. MA’s holdings in Old Dominion Freight Line were worth $4,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its position in shares of Old Dominion Freight Line by 5.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,026 shares of the transportation company’s stock worth $4,415,000 after purchasing an additional 1,359 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Old Dominion Freight Line by 1.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,760 shares of the transportation company’s stock valued at $1,194,000 after buying an additional 84 shares in the last quarter. Stock Yards Bank & Trust Co. increased its holdings in Old Dominion Freight Line by 1.8% during the second quarter. Stock Yards Bank & Trust Co. now owns 79,778 shares of the transportation company’s stock worth $14,089,000 after buying an additional 1,448 shares during the last quarter. Citizens Financial Group Inc. RI bought a new stake in Old Dominion Freight Line during the second quarter worth $211,000. Finally, Renaissance Technologies LLC bought a new stake in Old Dominion Freight Line during the second quarter worth $82,398,000. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ODFL. Morgan Stanley lowered their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. BMO Capital Markets boosted their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America cut their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Raymond James lifted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, TD Cowen dropped their price objective on shares of 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 given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $201.83.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the 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 completion of the sale, the chairman now directly 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 is accessible through this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of the 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 owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Stock Up 1.1 %

Shares of ODFL opened at $196.75 on Thursday. The company has a market capitalization of $42.75 billion, a PE ratio of 34.64, a PEG ratio of 3.92 and a beta of 0.99. The stock’s 50-day moving average price is $195.55 and its two-hundred day moving average price is $195.94. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’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 earnings per share. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.64 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

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.