Chartwell Investment Partners LLC Decreases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chartwell Investment Partners LLC reduced its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 21,789 shares of the transportation company’s stock after selling 667 shares during the period. Chartwell Investment Partners LLC’s holdings in Old Dominion Freight Line were worth $4,328,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ODFL. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line in the second quarter valued at $25,000. Atwood & Palmer Inc. lifted its position in Old Dominion Freight Line by 3,700.0% in the second 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 last quarter. Versant Capital Management Inc lifted its position in Old Dominion Freight Line by 1,630.0% in the second 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 last quarter. LRI Investments LLC lifted its position in Old Dominion Freight Line by 73.1% in the second 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 last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the first quarter valued at about $38,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ODFL has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Stephens restated an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. The Goldman Sachs Group lowered 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 research report on Wednesday, October 9th. Susquehanna lowered their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Finally, TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $231.84 on Tuesday. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The firm has a fifty day moving average of $198.73 and a 200-day moving average of $190.23. The firm has a market capitalization of $49.50 billion, a P/E ratio of 40.53, a PEG ratio of 6.37 and a beta of 0.99. 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 (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the business earned $1.54 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, analysts predict that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the firm’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 completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing 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 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 transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,975 shares of company stock valued at $9,386,158. Corporate insiders own 9.90% of the company’s stock.

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.