Amalgamated Bank increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,764 shares of the transportation company's stock after buying an additional 3,220 shares during the period. Amalgamated Bank's holdings in Old Dominion Freight Line were worth $8,495,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ODFL. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at $25,000. Atwood & Palmer Inc. boosted its holdings in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock valued at $27,000 after purchasing an additional 148 shares during the period. Washington Trust Advisors Inc. boosted its holdings in 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 purchasing an additional 83 shares during the period. Versant Capital Management Inc boosted its holdings in Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company's stock valued at $31,000 after purchasing an additional 163 shares during the period. Finally, LRI Investments LLC boosted its holdings in 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. 77.82% of the stock is owned by institutional investors.
Old Dominion Freight Line Stock Down 3.2 %
NASDAQ:ODFL traded down $7.27 during trading hours on Thursday, hitting $222.91. 1,696,621 shares of the company traded hands, compared to its average volume of 1,553,088. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm's 50-day simple moving average is $196.67 and its 200-day simple moving average is $189.90. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $231.36. The company has a market cap of $48.44 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 - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the business earned $1.54 EPS. The business's revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.
Old Dominion Freight Line Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio is presently 18.18%.
Analysts Set New Price Targets
A number of brokerages have weighed in on ODFL. Stephens reissued an "overweight" rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Evercore ISI dropped 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 report on Thursday, October 3rd. Benchmark reiterated a "hold" rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group reduced their target price on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. One 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 company. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and an average price target of $196.39.
Check Out Our Latest Analysis on Old Dominion Freight Line
Insider Activity
In other news, Chairman David S. Congdon sold 29,975 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares of the company's stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company's stock, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,975 shares of company stock valued at $9,386,158 in the last ninety days. 9.90% of the stock is currently owned by insiders.
About Old Dominion Freight Line
(
Free Report)
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.
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