Cornerstone Advisors LLC grew its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 7.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,100 shares of the transportation company’s stock after buying an additional 500 shares during the quarter. Cornerstone Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,410,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the second quarter valued at $25,000. Atwood & Palmer Inc. raised its position in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after buying an additional 163 shares during the period. LRI Investments LLC grew its position in shares of Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after buying an additional 79 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on ODFL shares. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group cut their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Susquehanna decreased their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued 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.com, the company presently has an average rating of “Hold” and a consensus price target of $200.00.
Old Dominion Freight Line Stock Up 2.2 %
Shares of NASDAQ:ODFL opened at $218.98 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. 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 stock has a market cap of $46.75 billion, a P/E ratio of 38.28, a P/E/G ratio of 4.43 and a beta of 0.99. The firm has a fifty day moving average price of $203.28 and a 200 day moving average price of $192.11.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion during 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 quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 earnings per share. 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 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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 18.18%.
Insider Transactions at Old Dominion Freight Line
In other news, Chairman David S. Congdon sold 29,975 shares of the 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 approximately $282,146,307.30. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’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 value of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock worth $10,062,478 over the last 90 days. 9.90% of the stock is currently owned by insiders.
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.
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