Motley Fool Asset Management LLC Lowers Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Motley Fool Asset Management LLC reduced its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,827 shares of the transportation company’s stock after selling 645 shares during the period. Motley Fool Asset Management LLC’s holdings in Old Dominion Freight Line were worth $1,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ODFL. Cetera Investment Advisers grew its stake in 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 worth $6,830,000 after acquiring an additional 26,064 shares during the period. Cetera Advisors LLC grew its stake in 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 worth $2,031,000 after acquiring an additional 8,311 shares during the period. Mather Group LLC. grew its stake in Old Dominion Freight Line by 235.4% in 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 during the period. Park Avenue Securities LLC grew its stake in shares of Old Dominion Freight Line by 113.9% during the 2nd quarter. Park Avenue Securities LLC now owns 6,988 shares of the transportation company’s stock valued at $1,234,000 after buying an additional 3,721 shares during the period. Finally, CWM LLC grew its stake in shares of Old Dominion Freight Line by 97.8% during the 2nd quarter. CWM LLC now owns 9,750 shares of the transportation company’s stock valued at $1,722,000 after buying an additional 4,820 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ODFL. TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group lowered their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Barclays boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird lowered their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $201.94.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $211.03 on Thursday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. 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 firm has a market capitalization of $45.05 billion, a P/E ratio of 36.89, a P/E/G ratio of 4.70 and a beta of 1.00. The company’s fifty day moving average price is $207.67 and its two-hundred day moving average price is $194.54.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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. 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 business posted $1.54 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. On average, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insiders Place Their Bets

In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

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.