Avity Investment Management Inc. Has $3.85 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Avity Investment Management Inc. lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 19,374 shares of the transportation company’s stock after selling 200 shares during the period. Avity Investment Management Inc.’s holdings in Old Dominion Freight Line were worth $3,848,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its holdings in shares of Old Dominion Freight Line by 39.1% in the 4th quarter. V Square Quantitative Management LLC now owns 1,532 shares of the transportation company’s stock worth $621,000 after buying an additional 431 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $29,000. Cim LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $2,514,000. Neo Ivy Capital Management acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $40,000. Finally, Syon Capital LLC grew its position in Old Dominion Freight Line by 12.3% during the 4th quarter. Syon Capital LLC now owns 593 shares of the transportation company’s stock worth $240,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ODFL. Stephens restated an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. BMO Capital Markets increased their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. TD Cowen decreased their price target on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on 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. Finally, Evercore ISI decreased their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $200.83.

Old Dominion Freight Line Trading Up 2.6 %

Shares of ODFL stock traded up $4.99 during trading hours on Friday, reaching $199.58. The company had a trading volume of 1,047,705 shares, compared to its average volume of 1,548,126. The firm has a market cap of $43.37 billion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 4.06 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The company has a 50 day moving average of $194.85 and a 200 day moving average of $193.58.

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, topping the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.6 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line 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 sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

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.