Worldquant Millennium Advisors LLC Sells 275,064 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Worldquant Millennium Advisors LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 92.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,228 shares of the transportation company's stock after selling 275,064 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Old Dominion Freight Line were worth $4,614,000 at the end of the most recent reporting period.

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

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares of the company's stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company's stock.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock traded up $0.03 during midday trading on Friday, hitting $203.00. 1,313,113 shares of the company were exchanged, compared to its average volume of 1,238,251. The firm has a 50 day simple moving average of $208.18 and a 200-day simple moving average of $195.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $43.34 billion, a P/E ratio of 35.49, a PEG ratio of 4.41 and a beta of 1.00. 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 issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (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 earned $1.54 earnings per share. The business's revenue was down 3.0% on a year-over-year basis. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on ODFL shares. TD Cowen dropped their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group cut their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Barclays lifted their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Citigroup increased their price objective on 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. Finally, Susquehanna dropped their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $202.88.

Old Dominion Freight Line 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.