Chicago Partners Investment Group LLC Purchases 224 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chicago Partners Investment Group LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,369 shares of the transportation company’s stock after acquiring an additional 224 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Old Dominion Freight Line were worth $258,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ODFL. Private Advisor Group LLC lifted its position in Old Dominion Freight Line by 117.5% during the 1st quarter. Private Advisor Group LLC now owns 8,716 shares of the transportation company’s stock valued at $1,912,000 after purchasing an additional 4,709 shares during the period. Janney Montgomery Scott LLC boosted its stake in Old Dominion Freight Line by 98.6% in the first quarter. Janney Montgomery Scott LLC now owns 13,343 shares of the transportation company’s stock valued at $2,926,000 after acquiring an additional 6,623 shares during the last quarter. Choreo LLC grew its holdings in Old Dominion Freight Line by 100.0% during the 1st quarter. Choreo LLC now owns 1,118 shares of the transportation company’s stock worth $246,000 after acquiring an additional 559 shares during the period. Nordea Investment Management AB raised its position in shares of Old Dominion Freight Line by 107.1% during the 1st quarter. Nordea Investment Management AB now owns 13,716 shares of the transportation company’s stock valued at $3,003,000 after acquiring an additional 7,093 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Old Dominion Freight Line by 96.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 27,410 shares of the transportation company’s stock valued at $6,011,000 after purchasing an additional 13,431 shares during the period. Institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 0.00 % decrease in their position. The transaction 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 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 sale, the chairman now 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. Over the last three months, insiders sold 46,975 shares of company stock valued at $9,386,158. 9.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ODFL has been the subject of a number of analyst reports. Raymond James lifted their price objective 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. The Goldman Sachs Group lowered their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Evercore ISI decreased their price objective on shares of 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. Susquehanna cut their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Stock Up 1.5 %

Shares of ODFL stock opened at $207.01 on Wednesday. The firm’s fifty day moving average price is $195.67 and its two-hundred day moving average price is $189.65. The company has a current ratio of 1.33, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The firm has a market capitalization of $44.98 billion, a P/E ratio of 35.96, a PEG ratio of 4.30 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.48 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is presently 18.18%.

About Old Dominion Freight Line

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.