Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.0% in the 3rd quarter, Holdings Channel reports. The firm owned 3,130 shares of the transportation company’s stock after selling 237 shares during the quarter. Bleakley Financial Group LLC’s holdings in Old Dominion Freight Line were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ODFL. Los Angeles Capital Management LLC lifted its stake in Old Dominion Freight Line by 97.9% in the first quarter. Los Angeles Capital Management LLC now owns 2,082 shares of the transportation company’s stock valued at $457,000 after buying an additional 1,030 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Old Dominion Freight Line by 97.6% in the first quarter. International Assets Investment Management LLC now owns 3,438 shares of the transportation company’s stock valued at $750,000 after purchasing an additional 1,698 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Old Dominion Freight Line by 51.5% during the first quarter. Salem Investment Counselors Inc. now owns 200 shares of the transportation company’s stock valued at $44,000 after buying an additional 68 shares during the last quarter. Ballentine Partners LLC grew its holdings in Old Dominion Freight Line by 111.7% in the 1st quarter. Ballentine Partners LLC now owns 1,634 shares of the transportation company’s stock worth $358,000 after buying an additional 862 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in Old Dominion Freight Line by 94.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,710 shares of the transportation company’s stock valued at $375,000 after acquiring an additional 829 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $198.05 on Tuesday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The firm’s 50 day simple moving average is $195.53 and its 200-day simple moving average is $191.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $43.03 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data 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. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s quarterly revenue 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. As a group, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.59 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Buying and Selling

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

Analyst Ratings Changes

ODFL has been the topic of a number of research analyst reports. Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company dropped their price target on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their price objective on shares of 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. Morgan Stanley dropped their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Evercore ISI decreased their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $199.44.

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.