Cerity Partners LLC Increases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Cerity Partners LLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 64.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,110 shares of the transportation company’s stock after buying an additional 12,537 shares during the period. Cerity Partners LLC’s holdings in Old Dominion Freight Line were worth $6,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foundations Investment Advisors LLC raised its stake in shares of Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after purchasing an additional 54 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after buying an additional 55 shares in the last quarter. Conning Inc. boosted its position in shares of Old Dominion Freight Line by 5.8% in the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after acquiring an additional 64 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in Old Dominion Freight Line by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock valued at $327,000 after acquiring an additional 66 shares in the last quarter. Finally, Quent Capital LLC increased its holdings in Old Dominion Freight Line by 5.5% during the 2nd quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock worth $226,000 after acquiring an additional 67 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $224.11 on Thursday. The stock has a market capitalization of $47.85 billion, a P/E ratio of 39.18, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one 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 business’s 50 day simple moving average is $205.13 and its two-hundred day simple moving average is $193.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 earnings per share. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company 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 is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of recent analyst reports. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays upped their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group dropped 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 report on Wednesday, October 9th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Finally, Stephens reiterated an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $200.41.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by 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.