Thrivent Financial for Lutherans Decreases Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Thrivent Financial for Lutherans decreased its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 621,745 shares of the transportation company's stock after selling 31,859 shares during the quarter. Thrivent Financial for Lutherans owned 0.29% of Old Dominion Freight Line worth $123,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. RiverPark Advisors LLC increased its stake in shares of Old Dominion Freight Line by 6.9% in the third quarter. RiverPark Advisors LLC now owns 3,954 shares of the transportation company's stock valued at $785,000 after buying an additional 256 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of Old Dominion Freight Line by 2.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 26,182 shares of the transportation company's stock worth $5,201,000 after purchasing an additional 747 shares during the period. Kinsale Capital Group Inc. increased its position in shares of Old Dominion Freight Line by 18.4% during the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company's stock worth $4,627,000 after buying an additional 3,614 shares during the period. Natixis Advisors LLC lifted its holdings in Old Dominion Freight Line by 17.1% in the third quarter. Natixis Advisors LLC now owns 324,906 shares of the transportation company's stock valued at $64,539,000 after buying an additional 47,354 shares during the period. Finally, Empowered Funds LLC grew its holdings in Old Dominion Freight Line by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company's stock worth $704,000 after acquiring an additional 199 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock traded down $7.86 during trading hours on Friday, hitting $215.57. 1,683,188 shares of the company were exchanged, compared to its average volume of 1,643,691. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 4.51 and a beta of 0.99. The firm has a fifty day simple moving average of $201.32 and a 200 day simple moving average of $191.36. 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 released its 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. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $1.54 earnings per share. The business's revenue for the quarter was down 3.0% on a year-over-year basis. Research analysts predict 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 annualized dividend and a dividend yield of 0.48%. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the 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 in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the business's 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 transaction, the director now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock valued at $10,062,478 over the last three months. Company insiders own 9.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America decreased their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Barclays raised their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an "equal weight" rating in a report on Wednesday. Argus lowered shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Benchmark restated a "hold" rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Finally, Robert W. Baird dropped their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $200.00.

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.