Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 62.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,266 shares of the transportation company's stock after acquiring an additional 2,800 shares during the quarter. Public Sector Pension Investment Board's holdings in Old Dominion Freight Line were worth $1,443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Counselors Inc. raised its holdings in Old Dominion Freight Line by 18.6% during the third quarter. Financial Counselors Inc. now owns 39,577 shares of the transportation company's stock valued at $7,862,000 after acquiring an additional 6,197 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Old Dominion Freight Line by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company's stock worth $264,157,000 after purchasing an additional 57,301 shares in the last quarter. Fiduciary Trust Co boosted its stake in Old Dominion Freight Line by 14.8% in the 3rd quarter. Fiduciary Trust Co now owns 1,659 shares of the transportation company's stock worth $330,000 after purchasing an additional 214 shares during the period. MetLife Investment Management LLC grew its holdings in Old Dominion Freight Line by 2.0% during the 3rd quarter. MetLife Investment Management LLC now owns 58,116 shares of the transportation company's stock valued at $11,544,000 after buying an additional 1,157 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $45,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ODFL shares. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Barclays increased their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group decreased their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Susquehanna cut 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 report on Thursday, October 24th. Finally, Citigroup upped their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $202.88.

Old Dominion Freight Line Trading Up 0.0 %

Shares of ODFL stock traded up $0.03 on Friday, reaching $203.00. 1,313,113 shares of the company's stock were exchanged, compared to its average volume of 1,238,251. The company's fifty day simple moving average is $208.18 and its 200 day simple moving average is $194.88. The stock has a market capitalization of $43.34 billion, a PE ratio of 35.49, a P/E/G ratio of 4.41 and a beta of 1.00. 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 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned $1.54 earnings per share. The business's revenue was down 3.0% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Old Dominion Freight Line's payout ratio is 18.18%.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 7,000 shares of the business's stock in a transaction on Monday, October 28th. The stock was 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 approximately $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 accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the company'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 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 disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

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.