Advisors Asset Management Inc. Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Advisors Asset Management Inc. raised its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,888 shares of the transportation company’s stock after buying an additional 55 shares during the quarter. Advisors Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $2,163,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ODFL. Benjamin Edwards Inc. purchased a new stake in shares of Old Dominion Freight Line during the second quarter valued at about $25,000. Atwood & Palmer Inc. lifted its position in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 163 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 79 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Old Dominion Freight Line by 472.5% during the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 189 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock worth $4,028,510 in the last quarter. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $220.25 on Monday. The stock has a market capitalization of $47.02 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 4.57 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 $233.26. The firm’s 50 day simple moving average is $203.84 and its 200-day simple moving average is $192.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company earned $1.54 EPS. The business’s revenue was down 3.0% on a year-over-year basis. Analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ODFL shares. Evercore ISI cut their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. BMO Capital Markets cut their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Stephens restated an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Barclays upped their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Finally, Citigroup upped their price objective on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $200.00.

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.