Empirical Finance LLC Acquires 126 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Empirical Finance LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,956 shares of the transportation company’s stock after purchasing an additional 126 shares during the period. Empirical Finance LLC’s holdings in Old Dominion Freight Line were worth $1,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC boosted its holdings in Old Dominion Freight Line by 0.6% in the second quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after acquiring an additional 54 shares in the last quarter. Conning Inc. boosted its stake in shares of Old Dominion Freight Line by 5.8% during the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after purchasing an additional 64 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Old Dominion Freight Line by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock valued at $327,000 after buying an additional 66 shares during the period. Quent Capital LLC raised its stake in Old Dominion Freight Line by 5.5% in the second quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock worth $226,000 after buying an additional 67 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.0% in the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ODFL shares. Bank of America reduced their target price on 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. Stephens reissued an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. BMO Capital Markets dropped their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Susquehanna dropped 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 note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $200.00.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is owned by company insiders.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $215.57 on Friday. The firm has a fifty day simple moving average of $201.32 and a two-hundred day simple moving average of $191.30. The firm has a market cap of $46.02 billion, a PE ratio of 37.69, a P/E/G ratio of 6.36 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 0.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Old Dominion Freight Line Company 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.