Peregrine Asset Advisers Inc. Takes $2.20 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Peregrine Asset Advisers Inc. purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,078 shares of the transportation company's stock, valued at approximately $2,201,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Washington Trust Advisors Inc. grew its position in Old Dominion Freight Line by 138.3% in the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company's stock valued at $31,000 after acquiring an additional 83 shares during the last quarter. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter valued at $25,000. Atwood & Palmer Inc. grew its stake in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock worth $27,000 after purchasing an additional 148 shares during the last quarter. Bell Investment Advisors Inc increased its holdings in Old Dominion Freight Line by 104.8% in the first quarter. Bell Investment Advisors Inc now owns 172 shares of the transportation company's stock valued at $38,000 after purchasing an additional 88 shares during the period. Finally, Crewe Advisors LLC bought a new position in Old Dominion Freight Line during the 1st quarter worth $38,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup began coverage on Old Dominion Freight Line in a research report on Wednesday, October 9th. They set a "neutral" rating and a $206.00 price objective for the company. Susquehanna lowered their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating for the company in a research note on Thursday, October 24th. Barclays lowered their price objective on Old Dominion Freight Line from $195.00 to $190.00 and set an "equal weight" rating for the company in a research report 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 for the company in a research note on Friday, September 6th. Finally, Stephens reiterated an "overweight" rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $196.39.

Old Dominion Freight Line Price Performance

Shares of ODFL traded up $6.01 during trading hours on Monday, reaching $232.12. 612,004 shares of the stock traded hands, compared to its average volume of 1,546,659. The company has a market cap of $49.56 billion, a P/E ratio of 39.53, a price-to-earnings-growth ratio of 6.37 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The company's 50-day moving average price is $197.95 and its two-hundred day moving average price is $189.99. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.09.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 earnings per share. On average, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.18%.

Insider Activity

In related news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were 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 directly owns 97,890 shares of the company's stock, valued at $19,584,852.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company's stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,975 shares of company stock worth $9,386,158. Corporate 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.