Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 26,182 shares of the transportation company’s stock after purchasing an additional 747 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Old Dominion Freight Line were worth $5,201,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kinsale Capital Group Inc. grew its position in Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after acquiring an additional 3,614 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 17.1% in the third quarter. Natixis Advisors LLC now owns 324,906 shares of the transportation company’s stock valued at $64,539,000 after purchasing an additional 47,354 shares during the period. Empowered Funds LLC grew its holdings in Old Dominion Freight Line by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company’s stock valued at $704,000 after purchasing an additional 199 shares in the last quarter. Empirical Finance LLC increased its stake in Old Dominion Freight Line by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 5,956 shares of the transportation company’s stock worth $1,183,000 after buying an additional 126 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its holdings in Old Dominion Freight Line by 3.6% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 10,787 shares of the transportation company’s stock worth $2,143,000 after buying an additional 371 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Susquehanna cut their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Evercore ISI reduced their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Raymond James lifted their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, The Goldman Sachs Group dropped their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $200.00.

Insider Activity 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 sale, the director now owns 7,383 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the firm’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 transaction of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock worth $10,062,478 in the last quarter. 9.90% of the stock is owned by company insiders.

Old Dominion Freight Line Stock Performance

ODFL opened at $214.33 on Thursday. The business has a 50 day moving average price of $202.73 and a two-hundred day moving average price of $191.92. 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 company has a market capitalization of $45.76 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results 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 business 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 business’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 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business 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. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is 18.18%.

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.