Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Position Raised by Angeles Wealth Management LLC

Angeles Wealth Management LLC boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,936 shares of the transportation company’s stock after acquiring an additional 230 shares during the period. Angeles Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $518,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Trust Co. of Vermont bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $27,000. Farmers & Merchants Investments Inc. lifted its stake in Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the last quarter. Atwood & Palmer Inc. boosted its holdings 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 valued at $27,000 after acquiring an additional 148 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $29,000. Finally, Fortitude Family Office LLC grew its position in shares of Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $191.16 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The stock has a market capitalization of $41.54 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.83 and a beta of 0.99. The business’s fifty day moving average is $194.49 and its two-hundred day moving average is $196.95.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 earnings per share. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.65 earnings per share 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, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

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 stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ODFL. Morgan Stanley cut their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Robert W. Baird lifted their price target on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America decreased their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. TD Cowen lowered their target price on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Barclays reduced their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $201.00.

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.