Quantinno Capital Management LP Raises Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Quantinno Capital Management LP boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 71.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 34,165 shares of the transportation company's stock after acquiring an additional 14,180 shares during the period. Quantinno Capital Management LP's holdings in Old Dominion Freight Line were worth $6,787,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ODFL. International Assets Investment Management LLC raised its position in shares of Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company's stock valued at $136,130,000 after buying an additional 681,858 shares during the last quarter. Bristol Gate Capital Partners Inc. purchased a new position in shares of Old Dominion Freight Line in the second quarter worth about $92,697,000. Renaissance Technologies LLC purchased a new position in shares of Old Dominion Freight Line in the second quarter worth about $82,398,000. Bridges Investment Management Inc. lifted its stake in shares of Old Dominion Freight Line by 136.0% in the second quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company's stock worth $108,657,000 after buying an additional 354,588 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Old Dominion Freight Line by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company's stock worth $1,096,849,000 after buying an additional 270,538 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BMO Capital Markets decreased their price target 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. Bank of America decreased their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and decreased their price target for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Robert W. Baird reduced 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 research note on Thursday, October 24th. Finally, Evercore ISI reduced their target price on shares of 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of "Hold" and a consensus target price of $202.88.

Old Dominion Freight Line Stock Up 0.0 %

Shares of ODFL stock traded up $0.03 during trading on Friday, reaching $203.00. The company's stock had a trading volume of 1,313,113 shares, compared to its average volume of 1,238,251. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $43.34 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 4.41 and a beta of 1.00. The stock's 50-day moving average price is $208.18 and its 200 day moving average price is $194.88. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

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 for the quarter, beating analysts' consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.54 earnings per share. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS 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. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend 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%.

Insider Activity 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 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 business's 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 transaction, the director now owns 7,383 shares of the company's stock, 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. Company insiders own 9.90% of the company's stock.

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.