Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,888 shares of the transportation company’s stock after acquiring an additional 55 shares during the quarter. Advisors Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $2,163,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at about $25,000. Atwood & Palmer Inc. grew its position in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc grew its position in Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 163 shares in the last quarter. LRI Investments LLC grew its position 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 acquiring an additional 79 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Old Dominion Freight Line by 472.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 189 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $4,028,510. 9.90% of the stock is currently owned by company insiders.

Old Dominion Freight Line Price Performance

ODFL stock opened at $220.25 on Monday. The company has a market capitalization of $47.02 billion, a P/E ratio of 38.51, a PEG ratio of 4.57 and a beta of 0.99. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The business has a 50 day simple moving average of $203.84 and a 200-day simple moving average of $192.52. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data 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. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 earnings per share. As a group, equities analysts anticipate 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. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Analyst Ratings Changes

ODFL has been the subject of several recent research reports. Evercore ISI decreased their price objective 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 cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price objective for the company from $209.00 to $197.00 in a research note on Monday, October 21st. BMO Capital Markets decreased their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Bank of America decreased their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $200.00.

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.