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

Regal Investment Advisors LLC raised its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,611 shares of the transportation company’s stock after purchasing an additional 87 shares during the quarter. Regal Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $1,874,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp increased its stake in shares of Old Dominion Freight Line by 22.5% in the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after buying an additional 27 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Old Dominion Freight Line by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock worth $1,858,000 after purchasing an additional 47 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Old Dominion Freight Line by 0.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after purchasing an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in shares of 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 purchasing an additional 62 shares during the last quarter. Finally, Conning Inc. grew its stake in Old Dominion Freight Line by 5.8% in the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after purchasing an additional 64 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Susquehanna increased their target price on Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Wednesday, September 18th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Morgan Stanley reduced their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. BMO Capital Markets increased their target price on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Stephens reaffirmed an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $201.83.

Old Dominion Freight Line Stock Up 1.0 %

ODFL opened at $198.64 on Tuesday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market cap of $43.16 billion, a P/E ratio of 34.97, a P/E/G ratio of 4.08 and a beta of 0.99. The stock’s 50 day moving average price is $196.29 and its 200 day moving average price is $194.68.

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 (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.62 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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

Insider Activity

In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of the firm’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 approximately $271,602,670.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Company 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.