2,264 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management purchased a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,264 shares of the transportation company’s stock, valued at approximately $400,000.

Several other institutional investors also recently modified their holdings of ODFL. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. increased its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Atwood & Palmer Inc. raised its holdings in 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 worth $27,000 after buying an additional 148 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $29,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Old Dominion Freight Line by 103.0% in the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after buying an additional 68 shares during the period. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, July 25th. Morgan Stanley reduced their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Barclays dropped their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. Raymond James raised their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird upped their target price on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $200.88.

Old Dominion Freight Line Stock Up 0.1 %

Old Dominion Freight Line stock traded up $0.13 during mid-day trading on Thursday, hitting $194.33. 188,485 shares of the company’s stock were exchanged, compared to its average volume of 1,582,277. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The stock has a 50 day moving average of $191.85 and a two-hundred day moving average of $198.53. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $42.22 billion, a P/E ratio of 34.36, a P/E/G ratio of 3.75 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.7 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

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.