Segall Bryant & Hamill LLC Makes New Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Segall Bryant & Hamill LLC acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 154,779 shares of the transportation company's stock, valued at approximately $30,745,000. Segall Bryant & Hamill LLC owned about 0.07% of Old Dominion Freight Line as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at approximately $25,000. Atwood & Palmer Inc. grew its stake in shares of 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 period. Versant Capital Management Inc grew its stake in shares of Old Dominion Freight Line by 1,630.0% in the 2nd 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. LRI Investments LLC grew its stake in shares of 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 purchasing an additional 79 shares during the period. Finally, Crewe Advisors LLC bought a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 77.82% of the company's stock.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated 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 sale, the director now owns 97,890 shares of the company's stock, 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 SEC, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company's stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock worth $10,062,478 over the last 90 days. Insiders own 9.90% of the company's stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded down $0.09 during midday trading on Wednesday, hitting $211.71. The company had a trading volume of 183,091 shares, compared to its average volume of 1,540,594. The firm has a 50-day moving average price of $202.22 and a 200-day moving average price of $191.77. The company has a market capitalization of $45.20 billion, a PE ratio of 37.03, a P/E/G ratio of 4.51 and a beta of 0.99. 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 posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 earnings per share. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.49%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI lowered their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating on the stock in a research note on Thursday, October 3rd. Raymond James upped their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. BMO Capital Markets dropped their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. Citigroup boosted their target price on 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, Robert W. Baird decreased their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $200.00.

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.