KBC Group NV Decreases Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

KBC Group NV lowered its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 41.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,766 shares of the transportation company's stock after selling 24,612 shares during the period. KBC Group NV's holdings in Old Dominion Freight Line were worth $6,906,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in Old Dominion Freight Line by 98.6% during the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company's stock valued at $9,471,000 after buying an additional 21,438 shares in the last quarter. First Foundation Advisors increased its holdings in shares of Old Dominion Freight Line by 105.9% in the first quarter. First Foundation Advisors now owns 208 shares of the transportation company's stock worth $46,000 after purchasing an additional 107 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Old Dominion Freight Line by 85.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 214,954 shares of the transportation company's stock valued at $47,041,000 after buying an additional 99,228 shares during the period. Westfield Capital Management Co. LP increased its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,498 shares of the transportation company's stock worth $548,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of Old Dominion Freight Line by 148.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 3,636 shares of the transportation company's stock valued at $797,000 after acquiring an additional 2,171 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ODFL shares. TD Cowen lowered 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 research note on Thursday, October 24th. Raymond James upped their price objective 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. Stifel Nicolaus downgraded Old Dominion Freight Line from a "buy" rating to a "hold" rating and dropped their target price for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. Susquehanna reduced their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a research report on Thursday, October 24th. Finally, 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 report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $200.00.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares of the company's stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Down 3.5 %

ODFL stock traded down $7.86 during midday trading on Friday, hitting $215.57. The stock had a trading volume of 1,683,188 shares, compared to its average volume of 1,643,691. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $46.02 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99. The business has a 50-day moving average of $201.32 and a two-hundred day moving average of $191.30. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $1.54 earnings per share. The business's revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.48%. Old Dominion Freight Line's dividend payout ratio is 18.18%.

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.