Assenagon Asset Management S.A. Purchases 13,315 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Assenagon Asset Management S.A. lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 196.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,078 shares of the transportation company's stock after purchasing an additional 13,315 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Old Dominion Freight Line were worth $3,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in 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 increased its stake in Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company's stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares during the last quarter. Capital Research Global Investors raised its position in Old Dominion Freight Line by 59.0% during the first 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 in the last quarter. Capital World Investors lifted its stake in Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company's stock worth $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Old Dominion Freight Line by 283.5% during the first 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 during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. 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 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 transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company's stock, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,975 shares of company stock valued at $9,386,158. Company insiders own 9.90% of the company's stock.

Old Dominion Freight Line Trading Up 1.3 %

Shares of ODFL traded up $2.61 during trading hours on Wednesday, hitting $203.92. 741,576 shares of the stock were exchanged, compared to its average volume of 1,550,608. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The business has a 50-day moving average of $195.60 and a 200-day moving average of $189.99. The firm has a market capitalization of $44.31 billion, a P/E ratio of 35.19, a price-to-earnings-growth ratio of 4.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.46.

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 for the quarter, topping 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 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 company posted $1.54 EPS. The business's quarterly revenue was down 3.0% on a year-over-year basis. On average, research analysts expect that Old Dominion Freight Line, Inc. will post 5.48 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ODFL shares. Stephens reissued an "overweight" rating and set a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Citigroup initiated coverage on Old Dominion Freight Line in a research note on Wednesday, October 9th. They set a "neutral" rating and a $206.00 target price for the company. The Goldman Sachs Group reduced 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 research note on Wednesday, October 9th. Barclays lowered their price objective on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an "equal weight" rating for the company in a research report on Thursday, October 24th. Finally, Raymond James raised their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. One 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 company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $196.39.

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.