Board of the Pension Protection Fund Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Board of the Pension Protection Fund acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,400 shares of the transportation company's stock, valued at approximately $600,000.

A number of other large investors have also made changes to their positions in the stock. Toronto Dominion Bank boosted its stake in Old Dominion Freight Line by 77.7% during the third 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 in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock worth $1,188,000 after acquiring an additional 1,017 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $2,109,000. Kinsale Capital Group Inc. increased its stake in Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company's stock valued at $4,627,000 after acquiring an additional 3,614 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in Old Dominion Freight Line in the third quarter worth about $30,745,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ODFL. BMO Capital Markets decreased their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. Citigroup boosted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Argus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Evercore ISI cut their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating for the company in a report on Thursday, October 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a "hold" rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $202.17.

Old Dominion Freight Line Trading Up 1.8 %

Shares of NASDAQ ODFL traded up $3.24 during midday trading on Wednesday, hitting $186.86. The stock had a trading volume of 1,956,858 shares, compared to its average volume of 1,281,495. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm has a market cap of $39.89 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. The company's 50-day simple moving average is $201.95 and its 200 day simple moving average is $197.65.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company's revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $1.54 earnings per share. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.26 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.56%. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the company'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 completion of the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of the firm'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 owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company's stock.

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.