iA Global Asset Management Inc. Sells 18,895 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

iA Global Asset Management Inc. lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 36.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,618 shares of the transportation company's stock after selling 18,895 shares during the period. iA Global Asset Management Inc.'s holdings in Old Dominion Freight Line were worth $6,678,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $25,000. LRI Investments LLC grew its holdings 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 worth $33,000 after purchasing an additional 79 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth $45,000. Cullen Frost Bankers Inc. raised its stake in Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company's stock valued at $40,000 after purchasing an additional 189 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock worth $53,000 after purchasing an additional 215 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ODFL. TD Cowen decreased their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating on the stock in a research note on Thursday, October 24th. Susquehanna cut their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating for the company in a research note on Thursday, October 24th. Benchmark reaffirmed a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Finally, Stephens reissued an "overweight" rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $202.88.

Old Dominion Freight Line Trading Up 0.0 %

Shares of ODFL stock traded up $0.03 during trading hours on Friday, hitting $203.00. 1,313,113 shares of the company's stock traded hands, compared to its average volume of 1,238,251. The stock has a market cap of $43.34 billion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 4.41 and a beta of 1.00. The stock's 50 day simple moving average is $208.18 and its 200 day simple moving average is $195.01. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. 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 announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The business 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%. Old Dominion Freight Line's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.54 EPS. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company's stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the 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 sale, the director now owns 7,383 shares of the company's stock, valued at approximately $1,664,423.52. The trade was 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 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.