Landscape Capital Management L.L.C. Purchases New Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Landscape Capital Management L.L.C. acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,617 shares of the transportation company's stock, valued at approximately $2,109,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ODFL. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $25,000. Atwood & Palmer Inc. increased 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 valued at $27,000 after buying an additional 148 shares during the last quarter. Versant Capital Management Inc increased its stake 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 buying an additional 163 shares during the last quarter. LRI Investments LLC increased its stake in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock valued at $33,000 after buying an additional 79 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $38,000. Institutional investors own 77.82% of the company's stock.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction 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 owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line 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 transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % 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 valued at $10,062,478. Insiders own 9.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a research note on Thursday, October 24th. Raymond James raised their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Barclays raised their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 13th. Citigroup raised their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and cut their price objective for the stock from $209.00 to $197.00 in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and a consensus target price of $200.00.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL traded up $1.86 during mid-day trading on Friday, reaching $220.25. 774,274 shares of the company were exchanged, compared to its average volume of 1,538,016. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. 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 stock has a market capitalization of $47.02 billion, a PE ratio of 38.51, a PEG ratio of 4.43 and a beta of 0.99. The company's 50 day moving average price is $203.84 and its 200 day moving average price is $192.39.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm posted $1.54 EPS. The firm's revenue was down 3.0% compared to the same quarter last year. Sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

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.