Apollon Wealth Management LLC Sells 1,637 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Apollon Wealth Management LLC lessened its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 22.7% during the third quarter, Holdings Channel reports. The fund owned 5,587 shares of the transportation company’s stock after selling 1,637 shares during the period. Apollon Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,110,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its stake in Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after acquiring an additional 1,017 shares during the last quarter. Truist Financial Corp increased its stake in Old Dominion Freight Line by 7.6% in the second 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 during the last quarter. Sei Investments Co. increased its stake in Old Dominion Freight Line by 98.6% in the first 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 during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Old Dominion Freight Line by 85.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 214,954 shares of the transportation company’s stock valued at $47,041,000 after acquiring an additional 99,228 shares during the last quarter. Finally, Ground Swell Capital LLC grew its stake in shares of Old Dominion Freight Line by 262.6% during the third quarter. Ground Swell Capital LLC now owns 6,701 shares of the transportation company’s stock valued at $1,331,000 after buying an additional 4,853 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL stock opened at $223.43 on Friday. The firm has a 50 day moving average price of $200.71 and a 200-day moving average price of $191.02. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The firm has a market capitalization of $47.70 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 6.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

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 the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $1.54 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued 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 0.47%. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,975 shares of company stock worth $10,062,478. Insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

ODFL has been the topic of a number of recent research reports. Robert W. Baird reduced their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday. Susquehanna reduced their price objective on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Bank of America reduced their price objective 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. Finally, Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $200.00.

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.