Versant Capital Management Inc Raises Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Versant Capital Management Inc grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 45.5% during the 4th quarter, HoldingsChannel reports. The fund owned 352 shares of the transportation company’s stock after acquiring an additional 110 shares during the quarter. Versant Capital Management Inc’s holdings in Old Dominion Freight Line were worth $62,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ODFL. State Street Corp lifted its stake in shares of Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the last quarter. Geode Capital Management LLC increased its stake in Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares during the period. Wellington Management Group LLP lifted its position in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Old Dominion Freight Line by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after purchasing an additional 57,301 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock worth $239,096,000 after purchasing an additional 78,587 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $180.91 on Monday. The company has a market capitalization of $38.62 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. 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, Inc. has a one year low of $165.49 and a one year high of $233.26. The company’s 50-day moving average is $205.07 and its 200 day moving average is $197.40.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating 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 firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Transactions at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the firm’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 completion of the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ODFL shares. Stephens reissued an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their target price for the company from $209.00 to $197.00 in a research note on Monday, October 21st. Barclays raised their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Finally, Susquehanna reduced their target price on 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. One equities 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $204.00.

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.