Harvest Fund Management Co. Ltd Has $1.96 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Harvest Fund Management Co. Ltd increased its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 50.2% in the third quarter, Holdings Channel.com reports. The firm owned 9,875 shares of the transportation company’s stock after acquiring an additional 3,300 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Old Dominion Freight Line were worth $1,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. Atwood & Palmer Inc. raised 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 acquiring an additional 148 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of 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 purchasing an additional 163 shares during the period. LRI Investments LLC boosted its position in shares of 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 purchasing an additional 79 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Old Dominion Freight Line by 472.5% during the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 189 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $225.11 on Tuesday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The stock has a market cap of $48.06 billion, a P/E ratio of 39.35, a P/E/G ratio of 4.61 and a beta of 0.99. The company has a fifty day moving average price of $204.50 and a two-hundred day moving average price of $192.81. 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 announced 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 business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given 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 dividend payout ratio is 18.18%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ODFL shares. TD Cowen reduced 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. JPMorgan Chase & Co. reduced their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Barclays boosted their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Robert W. Baird dropped their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $200.00.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leo H. Suggs sold 3,000 shares of the 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 sale, the director now owns 7,383 shares in the company, valued at $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. Insiders sold 20,000 shares of company stock worth $4,028,510 in the last quarter. 9.90% of the stock is currently owned by corporate insiders.

About Old Dominion Freight Line

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.