Forsta AP Fonden Buys 4,400 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Forsta AP Fonden boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 12.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,700 shares of the transportation company's stock after buying an additional 4,400 shares during the period. Forsta AP Fonden's holdings in Old Dominion Freight Line were worth $7,886,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ODFL. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company's stock worth $4,780,004,000 after buying an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company's stock worth $3,010,435,000 after purchasing an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its holdings in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company's stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares during the period. Capital World Investors boosted its holdings in Old Dominion Freight Line by 101.0% in the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company's stock valued at $535,943,000 after purchasing an additional 1,228,116 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company's stock worth $242,021,000 after purchasing an additional 815,817 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Up 1.6 %

NASDAQ:ODFL traded up $3.09 during trading hours on Monday, reaching $200.88. The company had a trading volume of 1,576,300 shares, compared to its average volume of 1,553,618. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $43.65 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 4.23 and a beta of 0.99. The business's 50-day simple moving average is $195.55 and its two-hundred day simple moving average is $190.13.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $1.54 EPS. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stifel Nicolaus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating and cut their price target for the company from $209.00 to $197.00 in a research note on Monday, October 21st. The Goldman Sachs Group decreased their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Raymond James upped their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Susquehanna decreased their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a report on Thursday. Finally, Benchmark reaffirmed a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of "Hold" and an average target price of $196.39.

Insider Buying and Selling

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