Erste Asset Management GmbH Takes Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Erste Asset Management GmbH purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,250 shares of the transportation company’s stock, valued at approximately $4,402,000.

A number of other hedge funds have also recently added to or reduced their stakes in ODFL. B. Riley Wealth Advisors Inc. increased its position in shares of Old Dominion Freight Line by 4.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after purchasing an additional 66 shares during the period. Cetera Investment Advisers raised its position in shares of Old Dominion Freight Line by 513.0% in the 1st quarter. Cetera Investment Advisers now owns 31,145 shares of the transportation company’s stock valued at $6,830,000 after buying an additional 26,064 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Old Dominion Freight Line by 873.9% in the 1st quarter. Cetera Advisors LLC now owns 9,262 shares of the transportation company’s stock valued at $2,031,000 after buying an additional 8,311 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after acquiring an additional 163 shares during the period. Finally, Mather Group LLC. boosted its position in shares of Old Dominion Freight Line by 235.4% during the 2nd quarter. Mather Group LLC. now owns 2,036 shares of the transportation company’s stock worth $360,000 after acquiring an additional 1,429 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Susquehanna lowered their price objective on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. BMO Capital Markets lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $200.41.

Old Dominion Freight Line Stock Down 0.1 %

Shares of NASDAQ:ODFL opened at $224.85 on Tuesday. The firm has a market cap of $48.01 billion, a P/E ratio of 39.31, a P/E/G ratio of 4.71 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The business has a fifty day simple moving average of $206.69 and a 200 day simple moving average of $193.99. 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 posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 earnings per share. Analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. 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

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on 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 sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by 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.