Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,984 shares of the transportation company’s stock after buying an additional 215 shares during the quarter. Global Retirement Partners LLC’s holdings in Old Dominion Freight Line were worth $1,189,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. lifted its holdings in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the period. Atwood & Palmer Inc. lifted its holdings in shares of Old Dominion Freight Line by 3,700.0% in 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 during the period. Washington Trust Advisors Inc. lifted its holdings in shares of Old Dominion Freight Line by 138.3% in the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after buying an additional 83 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after buying an additional 163 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the company’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 sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ODFL. JPMorgan Chase & Co. reduced their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Susquehanna upped their target price on Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a report on Wednesday, September 18th. The Goldman Sachs Group reduced their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Citigroup began coverage on Old Dominion Freight Line in a report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 target price for the company. Finally, Morgan Stanley reduced their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $200.56.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $199.54 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The stock’s 50-day moving average is $195.53 and its two-hundred day moving average is $191.37. The firm has a market cap of $43.36 billion, a P/E ratio of 35.13, a PEG ratio of 4.24 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $1.33 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. Analysts predict that Old Dominion Freight Line, Inc. will post 5.59 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Old Dominion Freight Line Company 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.