Pacer Advisors Inc. Sells 1,647 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Pacer Advisors Inc. lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,595 shares of the transportation company’s stock after selling 1,647 shares during the quarter. Pacer Advisors Inc.’s holdings in Old Dominion Freight Line were worth $4,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Benjamin Edwards Inc. bought a new position in Old Dominion Freight Line during the second quarter valued at about $25,000. Trust Co. of Vermont bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. increased its stake in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Atwood & Palmer Inc. raised its holdings in shares of Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 1.1 %

Shares of NASDAQ ODFL opened at $198.42 on Wednesday. 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 has a 50-day moving average of $196.18 and a 200-day moving average of $195.22. The firm has a market capitalization of $43.11 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.92 and a beta of 0.99. 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 issued 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. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Transactions at Old Dominion Freight Line

In other 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 transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were 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. Company insiders own 9.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America decreased their target price 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. Robert W. Baird boosted their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Raymond James upped 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 report on Thursday, July 25th. Evercore ISI reiterated an “in-line” rating and issued a $196.00 target price (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Finally, Morgan Stanley dropped 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 research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.