Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,040 shares of the transportation company’s stock after purchasing an additional 128 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Old Dominion Freight Line were worth $405,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ODFL. Values First Advisors Inc. increased its stake in Old Dominion Freight Line by 4.6% in the 3rd quarter. Values First Advisors Inc. now owns 7,957 shares of the transportation company’s stock valued at $1,581,000 after buying an additional 352 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Old Dominion Freight Line by 196.9% during the third quarter. Assenagon Asset Management S.A. now owns 20,078 shares of the transportation company’s stock worth $3,988,000 after acquiring an additional 13,315 shares during the period. Brighton Jones LLC raised its holdings in Old Dominion Freight Line by 5.0% during the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after purchasing an additional 71 shares in the last quarter. International Assets Investment Management LLC lifted its position in Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after purchasing an additional 681,858 shares during the period. Finally, Capital Investment Counsel Inc boosted its holdings in Old Dominion Freight Line by 2.7% in the 3rd quarter. Capital Investment Counsel Inc now owns 5,800 shares of the transportation company’s stock valued at $1,152,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ODFL shares. Raymond James increased their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI reduced their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price target for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Robert W. Baird reduced their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $197.79 on Friday. The stock has a market capitalization of $42.98 billion, a P/E ratio of 33.90, a P/E/G ratio of 4.20 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. 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 firm’s 50-day moving average is $195.53 and its two-hundred day moving average is $190.44.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company earned $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 17.82%.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated 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 directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman David S. Congdon sold 10,000 shares of the company’s 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 completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. 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 owned by corporate insiders.

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.