J.W. Cole Advisors Inc. Takes Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

J.W. Cole Advisors Inc. purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,588 shares of the transportation company’s stock, valued at approximately $514,000.

Other large investors also recently modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at $25,000. Atwood & Palmer Inc. raised its position 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 purchasing an additional 148 shares during the last quarter. Washington Trust Advisors Inc. lifted its holdings in Old Dominion Freight Line by 138.3% during the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after buying an additional 83 shares during the period. Versant Capital Management Inc lifted its holdings 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 worth $31,000 after buying an additional 163 shares during the period. Finally, LRI Investments LLC lifted its holdings in Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after buying an additional 79 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the business’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 transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,975 shares of company stock worth $9,386,158 in the last 90 days. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $203.82 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33. The stock has a 50 day moving average price of $195.62 and a two-hundred day moving average price of $190.09. The firm has a market capitalization of $44.29 billion, a P/E ratio of 35.63, a P/E/G ratio of 4.23 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80.

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. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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 paid a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. The Goldman Sachs Group cut their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Susquehanna cut 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. Stephens reaffirmed an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Raymond James lifted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Citigroup began coverage on Old Dominion Freight Line in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $196.39.

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.