Wasatch Advisors LP Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Wasatch Advisors LP boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,885 shares of the transportation company’s stock after acquiring an additional 740 shares during the quarter. Wasatch Advisors LP’s holdings in Old Dominion Freight Line were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Old Dominion Freight Line by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after acquiring an additional 270,538 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Old Dominion Freight Line by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after acquiring an additional 57,301 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Old Dominion Freight Line by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after acquiring an additional 78,587 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Old Dominion Freight Line by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,033,160 shares of the transportation company’s stock valued at $182,444,000 after acquiring an additional 86,427 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Old Dominion Freight Line by 39.1% in the second quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock valued at $123,294,000 after acquiring an additional 196,350 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ODFL. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America reduced their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. TD Cowen reduced their price objective on 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. Finally, Barclays boosted their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $200.41.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value 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 trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Trading Up 0.5 %

NASDAQ:ODFL opened at $225.14 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $48.07 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The business’s 50-day simple moving average is $206.69 and its 200 day simple moving average is $193.92.

Old Dominion Freight Line (NASDAQ:ODFL) last announced 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. As a group, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 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.