Royal London Asset Management Ltd. Sells 173,648 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Royal London Asset Management Ltd. trimmed its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 14.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,005,614 shares of the transportation company's stock after selling 173,648 shares during the quarter. Royal London Asset Management Ltd. owned about 0.47% of Old Dominion Freight Line worth $199,755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ODFL. Cetera Investment Advisers raised its stake in shares of Old Dominion Freight Line by 513.0% during the 1st quarter. Cetera Investment Advisers now owns 31,145 shares of the transportation company's stock worth $6,830,000 after buying an additional 26,064 shares during the period. Cetera Advisors LLC boosted its stake in Old Dominion Freight Line by 873.9% during the first quarter. Cetera Advisors LLC now owns 9,262 shares of the transportation company's stock worth $2,031,000 after buying an additional 8,311 shares during the period. Mather Group LLC. increased its holdings in Old Dominion Freight Line by 235.4% in the 2nd quarter. Mather Group LLC. now owns 2,036 shares of the transportation company's stock valued at $360,000 after purchasing an additional 1,429 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Old Dominion Freight Line by 113.9% in the 2nd quarter. Park Avenue Securities LLC now owns 6,988 shares of the transportation company's stock valued at $1,234,000 after buying an additional 3,721 shares during the period. Finally, CWM LLC increased its stake in Old Dominion Freight Line by 97.8% during the second quarter. CWM LLC now owns 9,750 shares of the transportation company's stock worth $1,722,000 after purchasing an additional 4,820 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of several research analyst reports. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. BMO Capital Markets decreased their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Susquehanna cut their price objective 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. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Finally, TD Cowen reduced their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $201.94.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL traded down $5.44 on Thursday, reaching $205.59. The stock had a trading volume of 496,388 shares, compared to its average volume of 1,527,602. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $43.89 billion, a P/E ratio of 36.89, a price-to-earnings-growth ratio of 4.57 and a beta of 1.00. The firm has a fifty day moving average of $207.90 and a two-hundred day moving average of $194.65. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the previous year, the company earned $1.54 EPS. The business's revenue was down 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed 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 is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction 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 completion of the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company's stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.