Wilmington Savings Fund Society FSB Buys New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,649 shares of the transportation company's stock, valued at approximately $1,718,000.

Other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC grew its stake in shares of Old Dominion Freight Line by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 49,568 shares of the transportation company's stock worth $10,917,000 after purchasing an additional 12,095 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock worth $19,479,000 after buying an additional 42,880 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth approximately $512,000. Coldstream Capital Management Inc. increased its stake in shares of Old Dominion Freight Line by 6.7% during the third quarter. Coldstream Capital Management Inc. now owns 3,639 shares of the transportation company's stock valued at $728,000 after buying an additional 230 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Old Dominion Freight Line by 6.0% during the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company's stock valued at $959,005,000 after acquiring an additional 275,236 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and reduced their price target for the company from $209.00 to $197.00 in a research report on Monday, October 21st. Benchmark restated a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Susquehanna reduced their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI decreased their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating for the company in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line currently has an average rating of "Hold" and a consensus target price of $204.00.

Insider Buying and Selling

In other Old Dominion Freight Line news, 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 completion of the sale, the director now directly owns 97,890 shares of the company's stock, valued at $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 available at this link. Also, Director Leo H. Suggs sold 3,000 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value 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 represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Stock Down 1.2 %

Shares of NASDAQ:ODFL traded down $2.35 during trading on Friday, reaching $200.69. 849,093 shares of the stock traded hands, compared to its average volume of 1,527,076. The stock has a market cap of $42.85 billion, a P/E 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 52-week low of $165.49 and a 52-week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50-day moving average of $209.13 and a two-hundred day moving average of $195.93.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm earned $1.54 EPS. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 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.