Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stake Reduced by Rockland Trust Co.

Rockland Trust Co. lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,093 shares of the transportation company’s stock after selling 302 shares during the quarter. Rockland Trust Co.’s holdings in Old Dominion Freight Line were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line in the second quarter valued at approximately $25,000. Trust Co. of Vermont bought a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $27,000. Farmers & Merchants Investments Inc. raised its position in shares of Old Dominion Freight Line by 100.0% during the first 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 period. Atwood & Palmer Inc. lifted its stake in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $29,000. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. TD Cowen cut their price target on 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. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Stephens restated an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Finally, Bank of America decreased their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $201.39.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Old Dominion Freight Line 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 completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the firm’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 sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Up 0.5 %

NASDAQ ODFL traded up $0.93 during trading hours on Friday, hitting $191.86. 1,173,475 shares of the company traded hands, compared to its average volume of 1,561,721. The stock has a market capitalization of $41.69 billion, a price-to-earnings ratio of 33.78, a P/E/G ratio of 4.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. The business’s 50-day moving average is $195.77 and its 200-day moving average is $194.42.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.62 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. 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.