MML Investors Services LLC lessened its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Free Report) by 71.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,341 shares of the transportation company’s stock after selling 22,972 shares during the period. MML Investors Services LLC’s holdings in Old Dominion Freight Line were worth $1,856,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in ODFL. SevenBridge Financial Group LLC raised its position in Old Dominion Freight Line by 2.0% in the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after acquiring an additional 50 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of Old Dominion Freight Line by 0.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after purchasing an additional 54 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in 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 purchasing an additional 55 shares during the period. Hantz Financial Services Inc. lifted its position in Old Dominion Freight Line by 3.8% during the third quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock valued at $301,000 after purchasing an additional 56 shares in the last quarter. Finally, Conning Inc. grew its holdings in Old Dominion Freight Line by 5.8% during the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.
Insider Transactions at Old Dominion Freight Line
In other news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction 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 sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated 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 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Old Dominion Freight Line Trading Down 0.9 %
ODFL stock opened at $198.89 on Tuesday. The firm has a fifty day moving average price of $209.34 and a 200 day moving average price of $196.45. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm has a market cap of $42.46 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 4.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.49 billion. During the same period in the previous year, the firm posted $1.54 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 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. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.
About Old Dominion Freight Line
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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