Asset Management One Co. Ltd. Sells 24,451 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Asset Management One Co. Ltd. decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 24.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,361 shares of the transportation company’s stock after selling 24,451 shares during the period. Asset Management One Co. Ltd.’s holdings in Old Dominion Freight Line were worth $14,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. Atwood & Palmer Inc. lifted its stake in Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares during the last quarter. Washington Trust Advisors Inc. grew its position in shares of Old Dominion Freight Line by 138.3% in the 1st quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 83 shares during the period. Versant Capital Management Inc increased its stake in shares of Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in shares of Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $230.18 on Thursday. The firm has a 50 day moving average of $195.95 and a 200-day moving average of $189.61. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $231.36. The company has a current ratio of 1.33, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $50.02 billion, a PE ratio of 40.24, a PEG ratio of 4.38 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data 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 business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. On average, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Greg C. Gantt sold 7,000 shares of the business’s 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 sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,975 shares of company stock valued at $9,386,158. 9.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ODFL shares. Robert W. Baird lowered their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. BMO Capital Markets dropped their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Evercore ISI dropped their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. Finally, TD Cowen reduced 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $196.39.

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.