Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Purchased by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,797 shares of the transportation company’s stock after buying an additional 411 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Old Dominion Freight Line were worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Foundations Investment Advisors LLC raised its stake in shares of Old Dominion Freight Line by 0.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after acquiring an additional 54 shares during the period. Conning Inc. lifted its stake in shares of Old Dominion Freight Line by 5.8% during the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after purchasing an additional 64 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Old Dominion Freight Line by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after purchasing an additional 66 shares in the last quarter. Quent Capital LLC boosted its position in shares of Old Dominion Freight Line by 5.5% in the second quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock worth $226,000 after buying an additional 67 shares during the period. Finally, Brighton Jones LLC grew its stake in shares of 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 valued at $294,000 after buying an additional 71 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The shares were 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 in the company, valued at approximately $1,664,423.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. 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. Citigroup lifted their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays upped their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday. 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. Finally, Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut 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 given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $200.00.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock traded down $1.00 during trading on Wednesday, hitting $225.32. The stock had a trading volume of 267,367 shares, compared to its average volume of 1,547,047. The business has a fifty day moving average of $199.36 and a two-hundred day moving average of $190.54. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm has a market cap of $48.11 billion, a P/E ratio of 39.47, a PEG ratio of 6.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 EPS. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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