Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Boosted by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 24.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,499 shares of the transportation company’s stock after buying an additional 2,294 shares during the period. Hunter Associates Investment Management LLC’s holdings in Old Dominion Freight Line were worth $2,284,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Foundations Investment Advisors LLC raised its position in Old Dominion Freight Line by 0.6% in the second quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after acquiring an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its stake in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Conning Inc. lifted its stake in Old Dominion Freight Line by 5.8% during the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after purchasing an additional 64 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Old Dominion Freight Line by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after buying an additional 66 shares in the last quarter. Finally, Quent Capital LLC grew its position in Old Dominion Freight Line by 5.5% in the second quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock worth $226,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ODFL. Bank of America reduced their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Susquehanna decreased their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the stock from $209.00 to $197.00 in a report on Monday, October 21st. Finally, Morgan Stanley dropped their target price 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $196.39.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the company’s 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 completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred 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 directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $200.88 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.46. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80. The business’s 50-day moving average price is $195.55 and its two-hundred day moving average price is $190.13. The company has a market capitalization of $43.65 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 4.23 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $1.54 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

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.