Chicago Partners Investment Group LLC Purchases 224 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Chicago Partners Investment Group LLC lifted its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,369 shares of the transportation company’s stock after purchasing an additional 224 shares during the period. Chicago Partners Investment Group LLC’s holdings in Old Dominion Freight Line were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in Old Dominion Freight Line by 117.5% during the 1st quarter. Private Advisor Group LLC now owns 8,716 shares of the transportation company’s stock worth $1,912,000 after buying an additional 4,709 shares during the period. Janney Montgomery Scott LLC increased its position in Old Dominion Freight Line by 98.6% during the first quarter. Janney Montgomery Scott LLC now owns 13,343 shares of the transportation company’s stock worth $2,926,000 after acquiring an additional 6,623 shares during the period. Choreo LLC raised its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Choreo LLC now owns 1,118 shares of the transportation company’s stock worth $246,000 after purchasing an additional 559 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Old Dominion Freight Line by 107.1% in the 1st quarter. Nordea Investment Management AB now owns 13,716 shares of the transportation company’s stock valued at $3,003,000 after purchasing an additional 7,093 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in shares of Old Dominion Freight Line by 96.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 27,410 shares of the transportation company’s stock worth $6,011,000 after purchasing an additional 13,431 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ODFL shares. Robert W. Baird cut their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Evercore ISI cut their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Susquehanna decreased 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 report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $196.39.

Insider Activity

In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,975 shares of company stock valued at $9,386,158. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Up 1.5 %

Shares of ODFL opened at $207.01 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The stock has a market capitalization of $44.98 billion, a price-to-earnings ratio of 35.96, a PEG ratio of 4.30 and a beta of 0.99. The stock has a fifty day moving average of $195.67 and a 200-day moving average of $189.65.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 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 firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm posted $1.54 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side 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. Shareholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 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.