Harvest Fund Management Co. Ltd Grows Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Harvest Fund Management Co. Ltd raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 50.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,875 shares of the transportation company's stock after purchasing an additional 3,300 shares during the period. Harvest Fund Management Co. Ltd's holdings in Old Dominion Freight Line were worth $1,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its stake in shares of Old Dominion Freight Line by 54.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 61,140 shares of the transportation company's stock valued at $12,145,000 after purchasing an additional 21,590 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in Old Dominion Freight Line by 25.6% in the third quarter. Summit Trail Advisors LLC now owns 2,566 shares of the transportation company's stock valued at $510,000 after buying an additional 523 shares during the period. SevenBridge Financial Group LLC lifted its holdings in Old Dominion Freight Line by 2.0% in the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock valued at $519,000 after buying an additional 50 shares during the period. Centaurus Financial Inc. boosted its position in Old Dominion Freight Line by 3.1% during the third quarter. Centaurus Financial Inc. now owns 3,782 shares of the transportation company's stock valued at $751,000 after acquiring an additional 113 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Old Dominion Freight Line by 64.1% during the 3rd quarter. Cerity Partners LLC now owns 32,110 shares of the transportation company's stock worth $6,378,000 after acquiring an additional 12,537 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the 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 completion of the transaction, the chairman now directly owns 1,391,621 shares of the company's stock, valued at $271,602,670.57. This represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock worth $4,028,510 in the last quarter. 9.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Robert W. Baird dropped their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Evercore ISI dropped their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on shares of 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. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets cut their target price on shares of 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. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus price target of $200.00.

Old Dominion Freight Line Stock Up 0.4 %

NASDAQ:ODFL traded up $0.86 during trading hours on Tuesday, hitting $225.97. 1,069,751 shares of the company traded hands, compared to its average volume of 1,537,499. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $48.24 billion, a PE ratio of 39.51, a PEG ratio of 4.61 and a beta of 0.99. The firm's 50-day simple moving average is $204.50 and its 200-day simple moving average is $192.81. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results 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 net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.46%. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

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.