Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 95.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,922 shares of the transportation company’s stock after selling 105,086 shares during the period. Intech Investment Management LLC’s holdings in Old Dominion Freight Line were worth $978,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after purchasing an additional 1,017 shares in the last quarter. Kinsale Capital Group Inc. raised its position in Old Dominion Freight Line by 18.4% in the 3rd quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after purchasing an additional 3,614 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $30,745,000. Truist Financial Corp raised its position in Old Dominion Freight Line by 7.6% in the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after purchasing an additional 7,460 shares in the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $681,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.8 %

NASDAQ:ODFL opened at $224.11 on Thursday. The stock’s 50 day moving average price is $205.13 and its 200 day moving average price is $193.10. The company has a market capitalization of $47.85 billion, a PE ratio of 39.07, a P/E/G ratio of 4.71 and a beta of 0.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week 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 company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $1.54 EPS. The company’s revenue was down 3.0% on a year-over-year basis. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on 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 completion of the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade 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.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ODFL shares. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their target price for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report 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 report on Thursday, October 24th. Finally, Susquehanna cut their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $200.41.

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.