Natixis Advisors LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 17.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 324,906 shares of the transportation company's stock after acquiring an additional 47,354 shares during the quarter. Natixis Advisors LLC owned about 0.15% of Old Dominion Freight Line worth $64,539,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line during the second quarter worth about $25,000. Atwood & Palmer Inc. raised its stake in shares of Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock worth $27,000 after buying an additional 148 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company's stock valued at $31,000 after buying an additional 163 shares during the period. LRI Investments LLC boosted its stake in shares of Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock valued at $33,000 after buying an additional 79 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in Old Dominion Freight Line during the first quarter worth $38,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.
Old Dominion Freight Line Stock Performance
Shares of NASDAQ:ODFL traded down $7.86 during trading on Friday, hitting $215.57. 1,683,188 shares of the company traded hands, compared to its average volume of 1,643,691. 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 business's fifty day moving average is $201.32 and its 200-day moving average is $191.30. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 4.51 and a beta of 0.99. 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, beating analysts' consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 earnings per share. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.
Old Dominion Freight Line Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.48%. Old Dominion Freight Line's payout ratio is 18.18%.
Insider Activity at Old Dominion Freight Line
In other news, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock worth $10,062,478 over the last quarter. 9.90% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Citigroup raised their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus lowered Old Dominion Freight Line from a "buy" rating to a "hold" rating and lowered their target price for the company from $209.00 to $197.00 in a report on Monday, October 21st. TD Cowen reduced their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird decreased their price target 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. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $200.00.
Check Out Our Latest Stock Report on ODFL
Old Dominion Freight Line Profile
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Free Report)
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.
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