BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 83,815 shares of the transportation company’s stock after selling 11,566 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Old Dominion Freight Line were worth $16,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Advisors LLC boosted its position in shares of Old Dominion Freight Line by 7.6% during the third quarter. Cornerstone Advisors LLC now owns 7,100 shares of the transportation company’s stock valued at $1,410,000 after purchasing an additional 500 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in Old Dominion Freight Line by 280.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 7,927 shares of the transportation company’s stock valued at $1,575,000 after buying an additional 5,844 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Old Dominion Freight Line by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,834 shares of the transportation company’s stock valued at $364,000 after buying an additional 350 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after buying an additional 55 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Old Dominion Freight Line in the 3rd quarter worth about $30,745,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Cowen dropped 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. 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. JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Wells Fargo & Company cut their target price on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Finally, BMO Capital Markets lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $200.00.

Insider Activity

In related 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 value 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 approximately $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the company’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 in the company, 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 sold a total of 49,975 shares of company stock worth $10,062,478 over the last 90 days. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Up 0.9 %

Shares of ODFL opened at $220.25 on Friday. The business’s 50 day moving average is $203.84 and its 200 day moving average is $192.44. The company has a current ratio of 1.33, a quick 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 $233.26. The company has a market capitalization of $47.02 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 4.57 and a beta of 0.99.

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, 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 firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the business posted $1.54 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 0.47%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

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.