Huntington National Bank Grows Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Huntington National Bank boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 20.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 911 shares of the transportation company’s stock after buying an additional 155 shares during the quarter. Huntington National Bank’s holdings in Old Dominion Freight Line were worth $181,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at approximately $25,000. Atwood & Palmer Inc. boosted its stake in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after acquiring an additional 148 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares in the last quarter. LRI Investments LLC raised its stake in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in Old Dominion Freight Line in the 1st quarter valued at $38,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $215.57 on Monday. The firm has a 50-day simple moving average of $201.32 and a two-hundred day simple moving average of $191.36. The stock has a market cap of $46.02 billion, a PE ratio of 37.69, a P/E/G ratio of 4.51 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

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, beating 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 firm 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 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on 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 completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction 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 in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,975 shares of company stock valued at $10,062,478. Corporate insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price 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. Barclays increased their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Robert W. Baird dropped 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 report on Thursday, October 24th. Finally, Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $200.00.

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.