Oddo BHF Asset Management Sas Invests $16.69 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Oddo BHF Asset Management Sas bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 84,028 shares of the transportation company's stock, valued at approximately $16,691,000.

A number of other institutional investors have also added to or reduced their stakes in ODFL. Franklin Resources Inc. increased its stake in shares of Old Dominion Freight Line by 74.8% during the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company's stock valued at $207,068,000 after buying an additional 437,700 shares during the period. Synovus Financial Corp boosted its stake in Old Dominion Freight Line by 2.4% during the third quarter. Synovus Financial Corp now owns 4,358 shares of the transportation company's stock worth $866,000 after acquiring an additional 101 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Old Dominion Freight Line during the third quarter worth about $1,718,000. Sanctuary Advisors LLC grew its holdings in Old Dominion Freight Line by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 49,568 shares of the transportation company's stock worth $10,917,000 after purchasing an additional 12,095 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock valued at $19,479,000 after purchasing an additional 42,880 shares in the last quarter. Institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

ODFL has been the topic of a number of recent research reports. BMO Capital Markets cut their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. Bank of America lowered their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating on the stock in a report on Friday, September 6th. 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 report on Friday, December 6th. Stifel Nicolaus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating and decreased their target price for the stock from $209.00 to $197.00 in a report on Monday, October 21st. Finally, Benchmark reissued a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line has a consensus rating of "Hold" and an average price target of $204.00.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company's stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company's stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded down $2.35 during trading hours on Friday, hitting $200.69. 849,093 shares of the company's stock traded hands, compared to its average volume of 1,527,076. The company has a market capitalization of $42.85 billion, a PE ratio of 35.50, a PEG ratio of 4.29 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The firm's 50-day moving average is $208.96 and its 200-day moving average is $195.74.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Old Dominion Freight Line's quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

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.