Whalen Wealth Management Inc. Invests $681,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Whalen Wealth Management Inc. acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,427 shares of the transportation company's stock, valued at approximately $681,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company's stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company's stock worth $1,445,822,000 after buying an additional 2,447,121 shares during the last quarter. Capital World Investors lifted its position in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company's stock worth $535,943,000 after buying an additional 1,228,116 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company's stock worth $242,021,000 after buying an additional 815,817 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Old Dominion Freight Line by 19,764.0% during the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company's stock worth $136,130,000 after buying an additional 681,858 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares of the company's stock, valued at $282,146,307.30. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,975 shares of company stock valued at $10,062,478. Insiders own 9.90% of the company's stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded down $2.19 during trading hours on Tuesday, reaching $211.80. The company's stock had a trading volume of 926,801 shares, compared to its average volume of 1,546,654. The stock has a market cap of $45.22 billion, a PE ratio of 37.03, a PEG ratio of 4.51 and a beta of 0.99. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company's 50-day moving average is $202.22 and its two-hundred day moving average is $191.77. 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 issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm's revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 EPS. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Old Dominion Freight Line's payout ratio is 18.18%.

Analyst Ratings Changes

Several research firms recently commented on ODFL. Stephens reiterated an "overweight" rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Citigroup upped their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Barclays upped their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 13th. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating for the company in a research report on Thursday, October 24th. Finally, BMO Capital Markets reduced their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of "Hold" and an average target price of $200.00.

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.