Landscape Capital Management L.L.C. Makes New $2.11 Million Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Landscape Capital Management L.L.C. purchased a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,617 shares of the transportation company’s stock, valued at approximately $2,109,000.

A number of other large investors have also made changes to their positions in ODFL. Price T Rowe Associates Inc. MD grew its position in Old Dominion Freight Line by 117.0% during the first 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 period. Bank of New York Mellon Corp boosted its stake in shares of Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after acquiring an additional 270,538 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake 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 acquiring an additional 815,817 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Old Dominion Freight Line by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,033,160 shares of the transportation company’s stock worth $182,444,000 after acquiring an additional 86,427 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Old Dominion Freight Line by 39.1% in the 2nd quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock valued at $123,294,000 after purchasing an additional 196,350 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Activity

In other news, Chairman David S. Congdon sold 29,975 shares of the 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 transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock worth $10,062,478 over the last ninety days. Corporate insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

ODFL has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Susquehanna lowered their price objective on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Stephens restated an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Bank of America lowered their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $200.00.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $218.98 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $46.75 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 4.43 and a beta of 0.99. The firm has a 50 day moving average price of $203.28 and a 200 day moving average price of $192.11. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm earned $1.54 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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 given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Old Dominion Freight Line Company 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.