ING Groep NV Sells 3,498 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

ING Groep NV trimmed its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,182 shares of the transportation company’s stock after selling 3,498 shares during the period. ING Groep NV’s holdings in Old Dominion Freight Line were worth $7,982,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ODFL. Foundations Investment Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after acquiring an additional 54 shares in the last quarter. Conning Inc. grew its stake in shares of Old Dominion Freight Line by 5.8% in the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after buying an additional 64 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Old Dominion Freight Line by 4.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after buying an additional 66 shares during the last quarter. Quent Capital LLC raised its position in shares of Old Dominion Freight Line by 5.5% during 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 in the last quarter. Finally, Brighton Jones LLC grew its position in Old Dominion Freight Line by 5.0% in the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after acquiring an additional 71 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ODFL. The Goldman Sachs Group lowered their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Barclays raised their target price on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stephens reiterated an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Susquehanna decreased their price objective on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Finally, Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $200.00.

Insiders Place Their Bets

In related news, 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 in the company, valued at $271,602,670.57. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’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 transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,975 shares of company stock valued at $10,062,478. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Down 3.5 %

NASDAQ:ODFL opened at $215.57 on Friday. The firm has a 50 day moving average of $201.32 and a 200 day moving average of $191.23. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 6.36 and a beta of 0.99.

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, 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 firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm earned $1.54 EPS. The business’s quarterly revenue 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 5.46 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

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.