Natixis Advisors LLC Acquires 47,354 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Natixis Advisors LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 17.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 324,906 shares of the transportation company’s stock after purchasing an additional 47,354 shares during the quarter. Natixis Advisors LLC’s holdings in Old Dominion Freight Line were worth $64,539,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after purchasing an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after purchasing an additional 270,538 shares during the last quarter. Capital World Investors increased its holdings in shares of Old Dominion Freight Line by 101.0% in the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after purchasing an additional 1,228,116 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Old Dominion Freight Line by 283.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock worth $242,021,000 after purchasing an additional 815,817 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 3.5 %

NASDAQ:ODFL opened at $215.57 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business’s 50-day simple moving average is $201.32 and its 200-day simple moving average is $191.30. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The stock has a market capitalization of $46.02 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 4.51 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 in the last 90 days. 9.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. The Goldman Sachs Group decreased their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Evercore ISI lowered their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Citigroup boosted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Robert W. Baird reduced their target price on shares of 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, Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $200.00.

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.