1,870 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by DRW Securities LLC

DRW Securities LLC purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,870 shares of the transportation company’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ODFL. Benjamin Edwards Inc. bought a new position in Old Dominion Freight Line during the second quarter valued at about $25,000. Atwood & Palmer Inc. lifted its holdings in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 163 shares in the last quarter. LRI Investments LLC boosted its position in shares of Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Old Dominion Freight Line by 472.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 189 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ODFL. Barclays raised their target price on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Robert W. Baird decreased their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their target price for the company from $209.00 to $197.00 in a report on Monday, October 21st. TD Cowen dropped 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. Finally, JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $200.00.

Old Dominion Freight Line Price Performance

ODFL opened at $225.97 on Wednesday. The stock has a fifty day moving average price of $204.50 and a 200 day moving average price of $192.81. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. The stock has a market cap of $48.24 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 4.61 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results 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 business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $1.54 EPS. The firm’s revenue was down 3.0% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 20,000 shares of company stock worth $4,028,510. 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.