Two Sigma Advisers LP Reduces Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Two Sigma Advisers LP trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 52.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448,800 shares of the transportation company's stock after selling 486,200 shares during the quarter. Two Sigma Advisers LP owned approximately 0.21% of Old Dominion Freight Line worth $89,150,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. LRI Investments LLC raised its stake in shares of Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company's stock worth $33,000 after buying an additional 79 shares during the period. Cullen Frost Bankers Inc. raised its stake in Old Dominion Freight Line by 472.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company's stock valued at $40,000 after purchasing an additional 189 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at $45,000. Finally, Brown Brothers Harriman & Co. raised its stake in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company's stock valued at $53,000 after purchasing an additional 215 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 0.4 %

Shares of NASDAQ ODFL traded up $0.88 during mid-day trading on Friday, reaching $203.85. 737,878 shares of the company's stock were exchanged, compared to its average volume of 1,528,976. The company's 50-day moving average is $208.05 and its 200-day moving average is $194.71. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The firm has a market capitalization of $43.52 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 4.57 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced 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. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the business posted $1.54 EPS. Old Dominion Freight Line's revenue for the quarter was down 3.0% on a year-over-year basis. Analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.18%.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the firm's stock in a transaction dated 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 sale, the director now owns 97,890 shares of the company's stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction dated 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 directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on ODFL shares. Argus downgraded Old Dominion Freight Line from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Susquehanna reduced their price objective on Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a research note on Thursday, October 24th. Evercore ISI reduced their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an "in-line" rating for the company in a research note on Thursday, October 3rd. Finally, Citigroup upped their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $202.88.

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.