D.A. Davidson & CO. Sells 79 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

D.A. Davidson & CO. lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,833 shares of the transportation company’s stock after selling 79 shares during the period. D.A. Davidson & CO.’s holdings in Old Dominion Freight Line were worth $563,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ODFL. International Assets Investment Management LLC boosted its stake in Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after purchasing an additional 681,858 shares during the period. Bristol Gate Capital Partners Inc. bought a new position in shares of Old Dominion Freight Line in the second quarter valued at approximately $92,697,000. Renaissance Technologies LLC purchased a new position in Old Dominion Freight Line during the second quarter valued at approximately $82,398,000. Bridges Investment Management Inc. increased its holdings in Old Dominion Freight Line by 136.0% during the 2nd quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company’s stock worth $108,657,000 after acquiring an additional 354,588 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Old Dominion Freight Line by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares in the last quarter. 77.82% of the stock is currently 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 stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Down 0.1 %

Old Dominion Freight Line stock opened at $224.85 on Tuesday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The business’s fifty day moving average is $206.69 and its 200 day moving average is $193.99. The stock has a market capitalization of $48.01 billion, a PE ratio of 39.31, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. 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 announced its quarterly 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 business posted $1.54 earnings per share. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared 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 of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. Old Dominion Freight Line’s payout ratio is 18.18%.

Analyst Ratings Changes

Several research analysts have recently commented on ODFL shares. Wells Fargo & Company cut their price objective on 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. BMO Capital Markets lowered their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Stephens reissued an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Citigroup boosted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group dropped their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $200.41.

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.