Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,892 shares of the transportation company’s stock after selling 339 shares during the period. Old Dominion Freight Line comprises 1.8% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 16th biggest position. Argus Investors Counsel Inc.’s holdings in Old Dominion Freight Line were worth $2,627,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ODFL. Czech National Bank lifted its holdings in Old Dominion Freight Line by 13.1% during the 3rd quarter. Czech National Bank now owns 38,416 shares of the transportation company’s stock worth $7,631,000 after buying an additional 4,463 shares during the last quarter. GAMMA Investing LLC lifted its stake in Old Dominion Freight Line by 39.2% during the third quarter. GAMMA Investing LLC now owns 1,865 shares of the transportation company’s stock worth $370,000 after purchasing an additional 525 shares during the last quarter. City Holding Co. boosted its holdings in Old Dominion Freight Line by 19.2% in the third quarter. City Holding Co. now owns 6,904 shares of the transportation company’s stock valued at $1,371,000 after purchasing an additional 1,110 shares in the last quarter. CWM LLC increased its stake in Old Dominion Freight Line by 9.4% in the third quarter. CWM LLC now owns 10,664 shares of the transportation company’s stock valued at $2,118,000 after purchasing an additional 914 shares during the last quarter. Finally, Wedmont Private Capital increased its stake in Old Dominion Freight Line by 4.4% in the third quarter. Wedmont Private Capital now owns 3,668 shares of the transportation company’s stock valued at $692,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $193.65 on Thursday. The company’s fifty day moving average is $191.21 and its two-hundred day moving average is $197.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $41.34 billion, a P/E ratio of 33.85, a PEG ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.58%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction dated 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 owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. 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 note on Thursday, October 24th. Finally, Jefferies Financial Group upped their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $202.44.

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.