J.W. Cole Advisors Inc. Acquires New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

J.W. Cole Advisors Inc. acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report) during the 3rd quarter, HoldingsChannel reports. The firm acquired 2,588 shares of the transportation company’s stock, valued at approximately $514,000.

Other institutional investors have also bought and sold shares of the company. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line during the 2nd quarter valued at $25,000. Atwood & Palmer Inc. raised its holdings 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 valued at $27,000 after acquiring an additional 148 shares during the period. Washington Trust Advisors Inc. raised 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 valued at $31,000 after acquiring an additional 83 shares during the period. Versant Capital Management Inc raised 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 valued at $31,000 after acquiring an additional 163 shares during the period. Finally, LRI Investments LLC raised 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 valued at $33,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $203.82 on Thursday. The company has a 50-day simple moving average of $195.62 and a two-hundred day simple moving average of $190.09. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80. The firm has a market cap of $44.29 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 4.23 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.48 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given 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 yield of 0.51%. Old Dominion Freight Line’s payout ratio is 18.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ODFL shares. Barclays lowered their target price on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Morgan Stanley lowered their target price on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price target on shares of 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. Finally, Citigroup assumed coverage on shares of Old Dominion Freight Line in a report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $196.39.

Read Our Latest Stock Report on Old Dominion Freight Line

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated 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 sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,975 shares of company stock worth $9,386,158 over the last three months. Company insiders own 9.90% of the company’s stock.

About Old Dominion Freight Line

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ODFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Dominion Freight Line, Inc. (NASDAQ:ODFLFree Report).

Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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