Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,835 shares of the transportation company’s stock after acquiring an additional 301 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Old Dominion Freight Line were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Seven Eight Capital LP lifted its stake in shares of Old Dominion Freight Line by 141.1% during the first quarter. Seven Eight Capital LP now owns 1,806 shares of the transportation company’s stock worth $396,000 after purchasing an additional 1,057 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in Old Dominion Freight Line by 135.6% during the 1st quarter. Lake Street Advisors Group LLC now owns 2,078 shares of the transportation company’s stock worth $456,000 after acquiring an additional 1,196 shares in the last quarter. National Bank of Canada FI boosted its holdings in Old Dominion Freight Line by 24.9% in the 1st quarter. National Bank of Canada FI now owns 105,224 shares of the transportation company’s stock worth $23,077,000 after acquiring an additional 20,993 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Old Dominion Freight Line by 138.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 161,020 shares of the transportation company’s stock worth $35,300,000 after acquiring an additional 93,460 shares during the period. Finally, Pitcairn Co. grew its position in Old Dominion Freight Line by 97.7% in the first quarter. Pitcairn Co. now owns 3,495 shares of the transportation company’s stock valued at $766,000 after acquiring an additional 1,727 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction 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 completion of 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 SEC, which is available through this link. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock worth $10,062,478 over the last three months. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Down 1.0 %

ODFL opened at $211.80 on Wednesday. The stock’s 50 day moving average price is $202.22 and its 200 day moving average price is $191.77. 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 stock has a market cap of $45.22 billion, a P/E ratio of 37.03, a P/E/G ratio of 4.51 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend yield of 0.49%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Bank of America lowered their target price 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. The Goldman Sachs Group dropped their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets reduced their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird cut their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average 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.