Robeco Institutional Asset Management B.V. Cuts Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Robeco Institutional Asset Management B.V. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 31.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,344 shares of the transportation company's stock after selling 5,693 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Old Dominion Freight Line were worth $2,452,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company's stock worth $4,780,004,000 after buying an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company's stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares during the last quarter. Capital Research Global Investors raised its position in Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company's stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Old Dominion Freight Line by 4.6% during 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 purchasing an additional 270,538 shares during the last quarter. Finally, Capital World Investors lifted its stake in Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company's stock worth $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Up 1.4 %

Shares of NASDAQ:ODFL traded up $3.20 on Friday, hitting $226.11. The company had a trading volume of 1,092,606 shares, compared to its average volume of 1,576,737. The firm's 50-day simple moving average is $197.95 and its two-hundred day simple moving average is $189.99. The firm has a market capitalization of $48.27 billion, a price-to-earnings ratio of 39.53, a P/E/G ratio of 6.37 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $231.36.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line's revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 earnings per share. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's payout ratio is presently 18.18%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ODFL. Barclays reduced their price objective on Old Dominion Freight Line from $195.00 to $190.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company decreased their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating on the stock in a research note on Thursday, October 24th. Robert W. Baird cut their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Bank of America decreased their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Finally, BMO Capital Markets cut their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $196.39.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the director now owns 97,890 shares of the company's stock, valued at approximately $19,584,852.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman David S. Congdon sold 10,000 shares of the business'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 sale, the chairman now owns 1,391,621 shares of the company's stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Greg C. Gantt sold 7,000 shares of the firm'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 of the company's stock, valued at $19,584,852.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,975 shares of company stock worth $9,386,158 over the last ninety days. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line 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.