Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 109.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,435,228 shares of the transportation company's stock after acquiring an additional 750,073 shares during the quarter. Wellington Management Group LLP owned approximately 0.67% of Old Dominion Freight Line worth $285,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $25,000. LRI Investments LLC lifted 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 worth $33,000 after acquiring an additional 79 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Old Dominion Freight Line by 472.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company's stock worth $40,000 after purchasing an additional 189 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $45,000. Finally, Brown Brothers Harriman & Co. raised its position in Old Dominion Freight Line by 398.1% in the third 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 period. Hedge funds and other institutional investors own 77.82% of the company's stock.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction 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 completion of the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company's stock.

Old Dominion Freight Line Stock Up 0.0 %

ODFL traded up $0.03 on Friday, reaching $203.00. The company's stock had a trading volume of 1,313,113 shares, compared to its average volume of 1,238,251. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The stock has a 50 day moving average of $208.18 and a two-hundred day moving average of $195.01. The company has a market capitalization of $43.34 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 4.41 and a beta of 1.00.

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. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm posted $1.54 EPS. The company's revenue was down 3.0% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's payout ratio is currently 18.18%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. 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 research note on Thursday, October 24th. TD Cowen dropped their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a research report on Thursday, October 24th. Benchmark reissued a "hold" rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Wells Fargo & Company dropped their price objective on shares of 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. Finally, Stifel Nicolaus lowered shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and reduced their target price for the stock from $209.00 to $197.00 in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $202.88.

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.