Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Cut by Pitcairn Co.

Pitcairn Co. cut its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,400 shares of the transportation company’s stock after selling 442 shares during the quarter. Pitcairn Co.’s holdings in Old Dominion Freight Line were worth $675,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of ODFL. Benjamin Edwards Inc. purchased a new stake in shares of Old Dominion Freight Line during the second quarter valued at $25,000. Atwood & Palmer Inc. raised its position in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares during the period. Versant Capital Management Inc lifted its stake 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 worth $31,000 after acquiring an additional 163 shares in the last quarter. LRI Investments LLC boosted its position in Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after acquiring an additional 79 shares during the period. Finally, Cullen Frost Bankers Inc. increased its holdings 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 purchasing an additional 189 shares during the period. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the business’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 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock valued at $4,028,510 over the last ninety days. 9.90% of the stock is owned by company insiders.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $225.11 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $48.06 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 4.61 and a beta of 0.99. The firm has a fifty day moving average price of $204.50 and a two-hundred day moving average price of $192.81. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released 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 business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company earned $1.54 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. Analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. 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 0.46%. Old Dominion Freight Line’s payout ratio is 18.18%.

Analysts Set New Price Targets

ODFL has been the topic of several research reports. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America reduced their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Robert W. Baird dropped their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, 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 note on Friday, September 6th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.