Versor Investments LP Acquires New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Versor Investments LP bought a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,070 shares of the transportation company's stock, valued at approximately $1,404,000.

Several other large investors have also modified their holdings of ODFL. Benjamin Edwards Inc. purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. Atwood & Palmer Inc. boosted its position in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company's stock worth $27,000 after buying an additional 148 shares during the period. Washington Trust Advisors Inc. grew its stake in shares of Old Dominion Freight Line by 138.3% in the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company's stock valued at $31,000 after buying an additional 83 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company's stock valued at $31,000 after buying an additional 163 shares in the last quarter. Finally, LRI Investments LLC raised its holdings 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 buying an additional 79 shares during the period. Institutional investors and hedge funds own 77.82% of the company's stock.

Insider Activity

In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company's stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares of the company's stock, valued at $19,584,852.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,975 shares of company stock valued at $9,386,158 in the last ninety days. 9.90% of the stock is currently owned by company insiders.

Old Dominion Freight Line Stock Up 2.5 %

NASDAQ:ODFL traded up $5.73 during mid-day trading on Monday, hitting $231.84. The stock had a trading volume of 1,879,084 shares, compared to its average volume of 1,552,500. The company has a current ratio of 1.33, a quick ratio of 1.46 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. The stock has a 50-day simple moving average of $198.73 and a two-hundred day simple moving average of $190.23. The company has a market capitalization of $49.50 billion, a PE ratio of 40.53, a PEG ratio of 6.37 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the company earned $1.54 earnings per share. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.45%. Old Dominion Freight Line's payout ratio is 18.18%.

Analyst Ratings Changes

A number of equities analysts recently commented on ODFL shares. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a report on Thursday, October 24th. Barclays lowered their price objective on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an "equal weight" rating for the company in a research note on Thursday, October 24th. Evercore ISI lowered their price objective on shares of 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. Robert W. Baird lowered their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Finally, Raymond James raised their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus target price of $196.39.

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.