Ballentine Partners LLC Buys 96 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ballentine Partners LLC lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,730 shares of the transportation company’s stock after acquiring an additional 96 shares during the quarter. Ballentine Partners LLC’s holdings in Old Dominion Freight Line were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ODFL. Sequoia Financial Advisors LLC lifted its position in shares of Old Dominion Freight Line by 8.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock worth $876,000 after purchasing an additional 395 shares during the period. Chevy Chase Trust Holdings LLC lifted its holdings in Old Dominion Freight Line by 98.3% in the first quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock valued at $22,127,000 after buying an additional 50,019 shares during the period. Forsta AP Fonden boosted its position in Old Dominion Freight Line by 65.0% during the first quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock valued at $8,685,000 after acquiring an additional 15,600 shares during the last quarter. Sei Investments Co. grew its holdings in Old Dominion Freight Line by 98.6% during the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after acquiring an additional 21,438 shares during the period. Finally, Diversified Trust Co raised its position in shares of Old Dominion Freight Line by 162.9% in the 1st quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock worth $1,612,000 after acquiring an additional 4,554 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the 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 transaction, 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. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $188.85 on Thursday. The company has a fifty day moving average price of $194.63 and a 200-day moving average price of $196.90. The firm has a market cap of $41.03 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 3.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick 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.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm posted $1.33 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.65 EPS 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, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ODFL shares. BMO Capital Markets upped their target price on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Susquehanna cut their price target on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Stephens reissued an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Finally, Robert W. Baird raised their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $201.00.

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.