AE Wealth Management LLC Has $1.46 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

AE Wealth Management LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,281 shares of the transportation company’s stock after acquiring an additional 76 shares during the quarter. AE Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Benjamin Edwards Inc. bought a new position in Old Dominion Freight Line in the second quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line during the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. raised its position in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares in the last quarter. Atwood & Palmer Inc. lifted its stake in Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares during the last quarter. Finally, Raleigh Capital Management Inc. bought a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $29,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ODFL has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. dropped their price target 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. TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Barclays dropped their price objective on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $201.83.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Stock Up 1.1 %

ODFL stock opened at $198.42 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The business has a 50-day simple moving average of $196.18 and a 200 day simple moving average of $195.22. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The company has a market cap of $43.11 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.64 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a $0.26 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s payout ratio is 18.31%.

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.