Valley National Advisers Inc. Grows Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Valley National Advisers Inc. boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5,193.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,423 shares of the transportation company's stock after purchasing an additional 9,245 shares during the period. Valley National Advisers Inc.'s holdings in Old Dominion Freight Line were worth $1,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ODFL. Sequoia Financial Advisors LLC boosted its holdings in shares of Old Dominion Freight Line by 8.6% during the second quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company's stock worth $876,000 after purchasing an additional 395 shares during the period. Chevy Chase Trust Holdings LLC lifted its holdings in Old Dominion Freight Line by 98.3% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company's stock worth $22,127,000 after buying an additional 50,019 shares during the period. Truist Financial Corp grew its position in shares of Old Dominion Freight Line by 7.6% in the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company's stock worth $18,754,000 after buying an additional 7,460 shares during the last quarter. Forsta AP Fonden grew its position in shares of Old Dominion Freight Line by 65.0% in the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company's stock worth $8,685,000 after buying an additional 15,600 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Old Dominion Freight Line by 98.6% during the first 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 during the period. Institutional investors own 77.82% of the company's stock.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the 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 completion of the sale, the chairman now directly owns 1,401,621 shares of the company's stock, valued at $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company's stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company's stock.

Analyst Upgrades and Downgrades

ODFL has been the topic of several recent analyst reports. 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 on the stock in a report on Wednesday, October 9th. Morgan Stanley reduced their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an "equal weight" rating on the stock in a research report on Monday, July 8th. TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a report on Thursday. Robert W. Baird reduced their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $196.39.

Old Dominion Freight Line Stock Up 3.1 %

Old Dominion Freight Line stock traded up $5.98 during trading hours on Friday, hitting $197.79. The stock had a trading volume of 1,949,251 shares, compared to its average volume of 1,553,221. The stock has a market capitalization of $42.98 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $195.53 and its 200-day moving average price is $190.26. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $1.54 EPS. The company's quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.56 EPS 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 given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.31%.

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.