Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Acquired by Trust Investment Advisors

Trust Investment Advisors lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 100.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,844 shares of the transportation company’s stock after buying an additional 922 shares during the period. Trust Investment Advisors’ holdings in Old Dominion Freight Line were worth $326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. grew its stake in Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Atwood & Palmer Inc. grew its stake in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line in the fourth quarter worth $29,000. Finally, Fortitude Family Office LLC lifted its stake in Old Dominion Freight Line by 103.0% in the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Insider Buying and Selling

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

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $204.52 on Friday. The company has a 50-day moving average of $195.84 and a 200-day moving average of $195.95. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of 36.01, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Analyst Ratings Changes

Several equities analysts have recently commented on ODFL shares. 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. Evercore ISI restated an “in-line” rating and issued a $196.00 price target (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Susquehanna lifted their price target on Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a report on Wednesday. Barclays decreased their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. Finally, Bank of America cut their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $201.83.

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.