Wilmington Savings Fund Society FSB Takes $1.72 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wilmington Savings Fund Society FSB purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 8,649 shares of the transportation company’s stock, valued at approximately $1,718,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ODFL. Assenagon Asset Management S.A. boosted its stake in Old Dominion Freight Line by 6.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 6,763 shares of the transportation company’s stock valued at $1,194,000 after acquiring an additional 435 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Old Dominion Freight Line by 360.9% in the 2nd quarter. Blue Trust Inc. now owns 1,014 shares of the transportation company’s stock valued at $179,000 after purchasing an additional 794 shares in the last quarter. Calton & Associates Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter worth about $203,000. Marshall Financial Group LLC grew its stake in Old Dominion Freight Line by 519.1% in the second quarter. Marshall Financial Group LLC now owns 9,020 shares of the transportation company’s stock worth $1,593,000 after purchasing an additional 7,563 shares in the last quarter. Finally, Western Financial Corp CA grew its stake in Old Dominion Freight Line by 29.4% in the second quarter. Western Financial Corp CA now owns 5,896 shares of the transportation company’s stock worth $1,041,000 after purchasing an additional 1,340 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ODFL shares. Barclays upped their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Bank of America dropped their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. BMO Capital Markets decreased their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Evercore ISI lowered their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Finally, Stephens restated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $204.00.

Insider Buying and Selling

In other news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on 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 in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL opened at $200.69 on Friday. 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 business’s 50 day moving average is $209.13 and its 200-day moving average is $195.93. The stock has a market cap of $42.85 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 4.29 and a beta of 1.00. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 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.