Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 15.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,436 shares of the transportation company's stock after selling 2,892 shares during the period. Atria Investments Inc's holdings in Old Dominion Freight Line were worth $3,066,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lindbrook Capital LLC increased its position in Old Dominion Freight Line by 8.8% in the 3rd quarter. Lindbrook Capital LLC now owns 938 shares of the transportation company's stock worth $186,000 after purchasing an additional 76 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Old Dominion Freight Line by 12.9% in the third quarter. Bridges Investment Management Inc. now owns 694,620 shares of the transportation company's stock worth $137,979,000 after purchasing an additional 79,348 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 8.8% during the third quarter. Verdence Capital Advisors LLC now owns 4,145 shares of the transportation company's stock worth $823,000 after buying an additional 337 shares during the last quarter. Markel Group Inc. increased its holdings in shares of Old Dominion Freight Line by 5.5% during the 3rd quarter. Markel Group Inc. now owns 295,000 shares of the transportation company's stock worth $58,599,000 after purchasing an additional 15,500 shares during the period. Finally, Bensler LLC raised its holdings in Old Dominion Freight Line by 6.3% in the 3rd quarter. Bensler LLC now owns 41,553 shares of the transportation company's stock valued at $8,254,000 after acquiring an additional 2,469 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL traded down $2.17 during trading hours on Thursday, reaching $223.43. 1,156,501 shares of the company traded hands, compared to its average volume of 1,549,989. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $199.96 and a 200-day moving average price of $190.79. The stock has a market capitalization of $47.70 billion, a P/E ratio of 39.44, a P/E/G ratio of 6.38 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.01. The company 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 firm's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.54 earnings per share. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. Old Dominion Freight Line's dividend payout ratio is presently 18.18%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ODFL. Raymond James increased their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Stephens restated an "overweight" rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. TD Cowen decreased their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group lowered their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Finally, Bank of America lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating on the stock in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line has an average rating of "Hold" and a consensus price target of $200.00.

Insider Activity

In related 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 value of $1,400,490.00. Following the transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the firm's 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 completion of the sale, the director now owns 7,383 shares of the company's stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,975 shares of company stock valued at $10,062,478 in the last 90 days. Company insiders own 9.90% of the company's stock.

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.