Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by ING Groep NV

ING Groep NV decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.0% during the third quarter, Holdings Channel.com reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ODFL. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter worth about $25,000. Atwood & Palmer Inc. lifted its position in shares of Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares in the last quarter. Versant Capital Management Inc grew its stake in Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 163 shares during the period. LRI Investments LLC increased its holdings in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after acquiring an additional 79 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in Old Dominion Freight Line during the first quarter worth $38,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $215.57 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. 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 company has a 50 day moving average price of $201.32 and a 200 day moving average price of $191.23. The stock has a market capitalization of $46.02 billion, a P/E 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 (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Wall Street Analyst Weigh In

ODFL has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. 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. TD Cowen lowered their price target 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. Bank of America reduced their price objective 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $200.00.

Insiders Place Their Bets

In other news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock worth $10,062,478 in the last ninety days. 9.90% of the stock is owned by corporate insiders.

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.