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

Foundations Investment Advisors LLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.8% in the third quarter, HoldingsChannel reports. The firm owned 8,959 shares of the transportation company’s stock after selling 165 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in Old Dominion Freight Line by 8.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock valued at $876,000 after purchasing an additional 395 shares during the period. Chevy Chase Trust Holdings LLC raised its stake in Old Dominion Freight Line by 98.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock valued at $22,127,000 after acquiring an additional 50,019 shares in the last quarter. Truist Financial Corp raised its stake in Old Dominion Freight Line by 7.6% during the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after acquiring an additional 7,460 shares in the last quarter. Forsta AP Fonden raised its stake in Old Dominion Freight Line by 65.0% during the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock valued at $8,685,000 after acquiring an additional 15,600 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Old Dominion Freight Line by 98.6% during the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after acquiring an additional 21,438 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Activity

In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction 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 transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on 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 in the company, 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 filing with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line 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 transaction, 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 disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Down 5.5 %

Shares of Old Dominion Freight Line stock opened at $188.67 on Thursday. The stock’s fifty day moving average is $195.77 and its 200-day moving average is $190.85. The firm has a market capitalization of $41.00 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 4.18 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. 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 announced its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’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 earnings per share. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.59 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Analysts Set New Price Targets

Several analysts have weighed in on ODFL shares. JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Stephens reaffirmed an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Bank of America cut their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Raymond James lifted their target price on 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, Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $209.00 to $197.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.