Neo Ivy Capital Management Purchases New Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Neo Ivy Capital Management acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,576 shares of the transportation company's stock, valued at approximately $512,000.

Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in shares of Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock valued at $1,188,000 after buying an additional 1,017 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $2,109,000. Kinsale Capital Group Inc. lifted its stake in Old Dominion Freight Line by 18.4% in the 3rd quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company's stock worth $4,627,000 after purchasing an additional 3,614 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $30,745,000. Finally, Truist Financial Corp boosted its holdings in shares of Old Dominion Freight Line by 7.6% during the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company's stock worth $18,754,000 after purchasing an additional 7,460 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 0.9 %

Shares of ODFL traded down $1.77 during midday trading on Thursday, hitting $203.04. 1,083,309 shares of the stock were exchanged, compared to its average volume of 1,529,900. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $43.35 billion, a P/E ratio of 35.50, a P/E/G ratio of 4.25 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The stock has a fifty day simple moving average of $208.96 and a 200 day simple moving average of $195.74.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line's revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ODFL shares. Stifel Nicolaus downgraded Old Dominion Freight Line from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. Barclays raised their target price on 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. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Finally, Robert W. Baird decreased their target price on shares of 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 issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $204.00.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % 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 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.