Eagle Asset Management Inc. Lowers Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Eagle Asset Management Inc. lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 8.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 674,484 shares of the transportation company's stock after selling 63,865 shares during the quarter. Eagle Asset Management Inc. owned about 0.32% of Old Dominion Freight Line worth $133,980,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Benjamin Edwards Inc. purchased a new stake in shares of Old Dominion Freight Line in the second quarter worth about $25,000. Atwood & Palmer Inc. lifted its stake 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 worth $27,000 after purchasing an additional 148 shares in the last quarter. 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. LRI Investments LLC grew its position in shares of Old Dominion Freight Line by 73.1% during 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 in the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of Old Dominion Freight Line in the first quarter worth $38,000. Hedge funds and other institutional investors own 77.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ODFL shares. Robert W. Baird reduced their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. 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. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and lowered their target price for the company from $209.00 to $197.00 in a research note on Monday, October 21st. The Goldman Sachs Group cut their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned 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 a consensus target price of $200.00.

Old Dominion Freight Line Trading Up 0.7 %

Shares of NASDAQ:ODFL traded up $1.62 during midday trading on Friday, hitting $220.01. 314,276 shares of the stock traded hands, compared to its average volume of 1,535,991. 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's 50 day moving average is $203.28 and its two-hundred day moving average is $192.11. The stock has a market capitalization of $46.97 billion, a PE ratio of 38.28, a P/E/G ratio of 4.43 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 EPS. Old Dominion Freight Line's quarterly revenue was down 3.0% compared to the same quarter last year. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current 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. This represents a $1.04 annualized dividend and a yield of 0.47%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred 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 sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $271,602,670.57. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is currently owned by company insiders.

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.