MML Investors Services LLC Decreases Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

MML Investors Services LLC decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 71.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,341 shares of the transportation company's stock after selling 22,972 shares during the period. MML Investors Services LLC's holdings in Old Dominion Freight Line were worth $1,856,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Zacks Investment Management increased its stake in shares of Old Dominion Freight Line by 60.0% in the third quarter. Zacks Investment Management now owns 8,906 shares of the transportation company's stock valued at $1,769,000 after buying an additional 3,340 shares during the period. National Bank of Canada FI raised its holdings in Old Dominion Freight Line by 350.7% during the 3rd quarter. National Bank of Canada FI now owns 319,596 shares of the transportation company's stock worth $63,485,000 after purchasing an additional 248,682 shares during the last quarter. Wellington Management Group LLP raised its holdings in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company's stock worth $285,094,000 after purchasing an additional 750,073 shares during the last quarter. Wahed Invest LLC boosted its stake in shares of Old Dominion Freight Line by 9.0% in the 3rd quarter. Wahed Invest LLC now owns 4,769 shares of the transportation company's stock valued at $947,000 after purchasing an additional 393 shares during the last quarter. Finally, State Street Corp increased its position in shares of Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock worth $1,516,324,000 after buying an additional 279,946 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and dropped their target price for the company from $209.00 to $197.00 in a research report on Monday, October 21st. Susquehanna cut their price objective on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating for the company in a research report on Thursday, October 24th. Benchmark reissued a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating on the stock in a research report on Thursday, October 24th. Finally, Robert W. Baird decreased their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average target price of $204.00.

Old Dominion Freight Line Stock Up 0.0 %

Shares of Old Dominion Freight Line stock traded up $0.09 on Tuesday, reaching $198.98. The company's stock had a trading volume of 1,632,339 shares, compared to its average volume of 1,528,848. The company has a market capitalization of $42.48 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 4.21 and a beta of 1.00. 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 52 week low of $165.49 and a 52 week high of $233.26. The firm's fifty day simple moving average is $209.48 and its two-hundred day simple moving average is $196.61.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted 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 business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the business earned $1.54 EPS. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.52%. Old Dominion Freight Line's payout ratio is 18.18%.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction 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 trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the company'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 completion of the transaction, the director now directly owns 7,383 shares of the company's stock, 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 Company 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.