Shulman DeMeo Asset Management LLC boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 46.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,794 shares of the transportation company’s stock after acquiring an additional 571 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in Old Dominion Freight Line were worth $350,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in Old Dominion Freight Line during the third quarter worth $26,000. Clear Harbor Asset Management LLC purchased a new stake in Old Dominion Freight Line during the third quarter worth about $27,000. Berman Capital Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 61.9% in the third quarter. Berman Capital Advisors LLC now owns 191 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 73 shares during the period. CWM LLC grew its holdings in shares of Old Dominion Freight Line by 60.8% in the third quarter. CWM LLC now owns 201 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 76 shares in the last quarter. Finally, Newfound Research LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $37,000. Institutional investors own 69.32% of the company’s stock.
In other Old Dominion Freight Line news, Director Leo H. Suggs sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $200.00, for a total value of $900,000.00. Following the completion of the sale, the director now owns 6,227 shares in the company, valued at $1,245,400. The sale was disclosed in a document filed with the SEC, which is available through this link. 11.70% of the stock is currently owned by insiders.
ODFL has been the subject of several research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Old Dominion Freight Line from $202.00 to $212.00 and gave the stock a “hold” rating in a research note on Monday, November 30th. Bank of America boosted their target price on Old Dominion Freight Line from $155.00 to $174.00 and gave the stock an “underperform” rating in a research note on Thursday, October 15th. Evercore ISI assumed coverage on Old Dominion Freight Line in a research report on Friday, December 4th. They issued an “outperform” rating and a $235.00 price target on the stock. Zacks Investment Research downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $209.00 price objective for the company. in a research report on Tuesday, November 10th. Finally, Wolfe Research upgraded shares of Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and set a $221.00 target price on the stock in a research note on Thursday, January 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $197.43.
NASDAQ ODFL traded down $1.93 on Wednesday, reaching $201.42. The stock had a trading volume of 16,889 shares, compared to its average volume of 870,203. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.53 and a current ratio of 2.53. Old Dominion Freight Line, Inc. has a 12-month low of $105.80 and a 12-month high of $213.66. The business’s 50-day moving average price is $200.47 and its 200 day moving average price is $193.14. The stock has a market cap of $23.63 billion, a P/E ratio of 38.59, a price-to-earnings-growth ratio of 2.31 and a beta of 1.04.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Tuesday, October 27th. The transportation company reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.20. Old Dominion Freight Line had a return on equity of 20.47% and a net margin of 15.87%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Tuesday, December 1st. Old Dominion Freight Line’s dividend payout ratio is currently 11.74%.
Old Dominion Freight Line Company Profile
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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