Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,008 shares of the transportation company’s stock after selling 32,390 shares during the quarter. Intech Investment Management LLC’s holdings in Old Dominion Freight Line were worth $19,427,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ODFL. PNC Financial Services Group Inc. increased its holdings in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,413 shares of the transportation company’s stock valued at $5,031,000 after acquiring an additional 138 shares during the period. Wells Fargo & Company MN increased its holdings in shares of 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 valued at $60,431,000 after acquiring an additional 11,820 shares during the period. Trexquant Investment LP acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $3,472,000. Quest Partners LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $535,000. Finally, Franklin Resources Inc. increased its stake in Old Dominion Freight Line by 15.1% in the 4th quarter. Franklin Resources Inc. now owns 224,694 shares of the transportation company’s stock valued at $91,075,000 after buying an additional 29,508 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 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 Price Performance

Old Dominion Freight Line stock opened at $204.52 on Friday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $195.84 and its 200 day simple moving average is $195.95. The firm has a market capitalization of $44.44 billion, a PE ratio of 36.01, a P/E/G ratio of 3.92 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. The business 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%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 EPS. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.64 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.26 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Analyst Ratings Changes

Several brokerages have issued reports on ODFL. Stephens reissued an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Evercore ISI reissued an “in-line” rating and issued a $196.00 price objective (down from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Susquehanna boosted their price objective on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Wednesday. Raymond James boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America decreased their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $201.83.

About Old Dominion Freight Line

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.