Hilltop Holdings Inc. Invests $458,000 in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Hilltop Holdings Inc. bought a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,304 shares of the transportation company’s stock, valued at approximately $458,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chevy Chase Trust Holdings LLC increased its stake in shares of Old Dominion Freight Line by 4.7% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 103,605 shares of the transportation company’s stock worth $20,580,000 after acquiring an additional 4,695 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Old Dominion Freight Line by 1,448.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 2,230 shares of the transportation company’s stock valued at $443,000 after acquiring an additional 2,086 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Old Dominion Freight Line during the third quarter valued at $4,402,000. Wasatch Advisors LP lifted its stake in Old Dominion Freight Line by 12.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,885 shares of the transportation company’s stock valued at $1,368,000 after acquiring an additional 740 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Old Dominion Freight Line in the third quarter worth approximately $7,874,000. 77.82% of the stock is owned by institutional investors.

Insider Activity

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line 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 completion of the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction 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 represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ODFL. Bank of America dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Barclays raised their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Robert W. Baird dropped their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Citigroup lifted their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $202.88.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $203.00 on Friday. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26. The company has a market cap of $43.34 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 4.57 and a beta of 1.00. The firm’s fifty day moving average is $208.18 and its 200 day moving average is $194.88. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its 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. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. Sell-side 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 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.