Van ECK Associates Corp Acquires 4,155 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Van ECK Associates Corp boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 41,888 shares of the transportation company’s stock after buying an additional 4,155 shares during the period. Van ECK Associates Corp’s holdings in Old Dominion Freight Line were worth $7,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC lifted its position in shares of Old Dominion Freight Line by 0.6% during the second quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after purchasing an additional 54 shares in the last quarter. Conning Inc. raised its holdings in Old Dominion Freight Line by 5.8% in the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after purchasing an additional 64 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of 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 purchasing an additional 66 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Old Dominion Freight Line by 5.5% in the 2nd quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock valued at $226,000 after buying an additional 67 shares during the period. Finally, Brighton Jones LLC increased its position in shares of Old Dominion Freight Line by 5.0% in the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock valued at $294,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 10,000 shares of the firm’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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,975 shares of company stock valued at $9,386,158. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Performance

ODFL opened at $230.18 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $50.02 billion, a price-to-earnings ratio of 40.24, a PEG ratio of 4.38 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $231.36. The business has a 50 day moving average of $195.95 and a 200-day moving average of $189.61.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business 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 of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.45%. Old Dominion Freight Line’s payout ratio is 18.18%.

Analyst Ratings Changes

ODFL has been the subject of a number of research analyst reports. Barclays decreased their target price on Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a research note on Thursday, October 24th. Evercore ISI lowered 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 note on Thursday, October 3rd. Stifel Nicolaus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their price target for the company from $209.00 to $197.00 in a research note on Monday, October 21st. Robert W. Baird lowered their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup began coverage on shares of Old Dominion Freight Line in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $196.39.

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.