Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Paragon Advisors LLC

Paragon Advisors LLC lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,932 shares of the transportation company’s stock after selling 2,399 shares during the quarter. Paragon Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. acquired a new stake in Old Dominion Freight Line during the 2nd quarter worth about $25,000. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line during the third quarter worth about $45,000. Brown Brothers Harriman & Co. raised its position in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Old Dominion Freight Line in the third quarter valued at approximately $64,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $67,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 1.8 %

ODFL stock opened at $176.41 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $202.88 and a two-hundred day moving average of $197.55. 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 cap of $37.66 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 4.21 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several recent research reports. TD Cowen cut their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday. Citigroup increased 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. Wells Fargo & Company dropped their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Evercore ISI reduced their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $203.33.

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.