Prime Capital Investment Advisors LLC grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 554.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,307 shares of the transportation company's stock after purchasing an additional 29,909 shares during the period. Prime Capital Investment Advisors LLC's holdings in Old Dominion Freight Line were worth $7,013,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new stake in Old Dominion Freight Line in the second quarter valued at $25,000. Atwood & Palmer Inc. raised its stake in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock valued at $27,000 after purchasing an additional 148 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $38,000. Versant Capital Management Inc grew its position in shares of Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company's stock valued at $31,000 after purchasing an additional 163 shares during the period. Finally, LRI Investments LLC grew its holdings in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock valued at $33,000 after buying an additional 79 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Old Dominion Freight Line
In related news, Chairman David S. Congdon sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was 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 owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company's stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is currently owned by company insiders.
Old Dominion Freight Line Stock Down 0.3 %
NASDAQ ODFL traded down $0.72 on Wednesday, hitting $225.60. 1,308,821 shares of the stock traded hands, compared to its average volume of 1,551,781. The company has a market capitalization of $48.17 billion, a P/E ratio of 39.40, a price-to-earnings-growth ratio of 6.38 and a beta of 0.99. The stock has a 50-day moving average of $199.36 and a 200 day moving average of $190.54. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month 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 (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm 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 firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the business posted $1.54 earnings per share. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 5.46 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. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.18%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Stifel Nicolaus lowered shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and decreased their price target for the company from $209.00 to $197.00 in a report on Monday, October 21st. Susquehanna reduced their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a report on Thursday, October 24th. TD Cowen cut their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a report on Thursday, October 24th. BMO Capital Markets reduced their price objective 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. Finally, Benchmark restated a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. One research 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $200.00.
Read Our Latest Report on Old Dominion Freight Line
About Old Dominion Freight Line
(
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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