Ground Swell Capital LLC Has $1.33 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ground Swell Capital LLC boosted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 262.6% in the third quarter, HoldingsChannel.com reports. The firm owned 6,701 shares of the transportation company’s stock after buying an additional 4,853 shares during the period. Old Dominion Freight Line accounts for about 1.2% of Ground Swell Capital LLC’s investment portfolio, making the stock its 11th largest holding. Ground Swell Capital LLC’s holdings in Old Dominion Freight Line were worth $1,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC grew its holdings in Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after acquiring an additional 1,017 shares during the period. Chevy Chase Trust Holdings LLC grew its holdings in Old Dominion Freight Line by 98.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after acquiring an additional 50,019 shares during the period. Truist Financial Corp grew its holdings in Old Dominion Freight Line by 7.6% during the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after acquiring an additional 7,460 shares during the period. Forsta AP Fonden grew its holdings in Old Dominion Freight Line by 65.0% during the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after acquiring an additional 15,600 shares during the period. Finally, Sei Investments Co. grew its holdings in Old Dominion Freight Line by 98.6% during the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after acquiring an additional 21,438 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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 that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,975 shares of company stock worth $9,386,158 in the last quarter. Insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Raymond James increased their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen cut 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 report on Thursday, October 24th. Susquehanna cut their price objective on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company cut their price objective 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. Finally, BMO Capital Markets cut their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $196.39.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $200.98 on Monday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The company’s 50 day moving average price is $195.57 and its two-hundred day moving average price is $189.82. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $43.67 billion, a P/E ratio of 35.14, a P/E/G ratio of 4.30 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm earned $1.54 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

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.