Sigma Planning Corp Purchases New Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sigma Planning Corp acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,226 shares of the transportation company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth $25,000. Atwood & Palmer Inc. grew its holdings in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc increased its position in Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 163 shares during the period. LRI Investments LLC raised its holdings in shares of Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter worth approximately $38,000. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $215.57 on Friday. The business has a fifty day moving average of $201.32 and a 200 day moving average of $191.30. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 6.36 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the business posted $1.54 earnings per share. As a group, research analysts expect that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Activity

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line 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 completion of the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 in the last ninety days. Insiders own 9.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ODFL shares. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Susquehanna reduced their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Raymond James raised their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus 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.