Stifel Financial Corp Trims Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Stifel Financial Corp lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 5.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 340,169 shares of the transportation company's stock after selling 20,861 shares during the period. Stifel Financial Corp owned approximately 0.16% of Old Dominion Freight Line worth $67,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC increased its position in shares of Old Dominion Freight Line by 97.8% during the 2nd quarter. CWM LLC now owns 9,750 shares of the transportation company's stock valued at $1,722,000 after purchasing an additional 4,820 shares during the last quarter. Csenge Advisory Group increased its position in shares of Old Dominion Freight Line by 7.5% during the 2nd quarter. Csenge Advisory Group now owns 1,630 shares of the transportation company's stock valued at $288,000 after purchasing an additional 114 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Old Dominion Freight Line by 40.3% during the 2nd quarter. QRG Capital Management Inc. now owns 6,095 shares of the transportation company's stock valued at $1,076,000 after purchasing an additional 1,752 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of Old Dominion Freight Line by 0.6% during the 2nd quarter. Gateway Investment Advisers LLC now owns 82,404 shares of the transportation company's stock valued at $14,553,000 after purchasing an additional 516 shares during the last quarter. Finally, Czech National Bank increased its position in shares of Old Dominion Freight Line by 7.8% during the 2nd quarter. Czech National Bank now owns 33,953 shares of the transportation company's stock valued at $5,996,000 after purchasing an additional 2,469 shares during the last quarter. Institutional investors own 77.82% of the company's stock.

Analyst Ratings Changes

ODFL has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a "neutral" rating in a report on Friday. Evercore ISI reduced their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating for the company in a report on Thursday, October 3rd. Benchmark reissued a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. BMO Capital Markets reduced their target price on shares of 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. Finally, TD Cowen reduced their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $202.88.

Insider Activity

In related news, Director Leo H. Suggs sold 3,000 shares of the firm'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 completion of the sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Corporate insiders own 9.90% of the company's stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL traded up $0.03 during midday trading on Friday, reaching $203.00. 1,313,113 shares of the stock traded hands, compared to its average volume of 1,238,251. 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 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. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company's 50 day moving average is $208.18 and its 200 day moving average is $194.88.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its 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 firm 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%. The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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 given 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 dividend yield of 0.51%. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

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.