Massmutual Trust Co. FSB ADV Sells 162 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Massmutual Trust Co. FSB ADV cut its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,033 shares of the transportation company’s stock after selling 162 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Old Dominion Freight Line were worth $602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $25,000. Trust Co. of Vermont purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $27,000. Farmers & Merchants Investments Inc. raised its holdings in shares of Old Dominion Freight Line by 100.0% in the 1st 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 period. Atwood & Palmer Inc. grew its holdings in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $29,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

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 transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the 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 of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ODFL. Morgan Stanley cut their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Stephens reiterated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Robert W. Baird upped their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Susquehanna boosted their target price on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a report on Wednesday, September 18th. Finally, Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average target price of $201.39.

Old Dominion Freight Line Price Performance

ODFL opened at $191.86 on Friday. 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 market cap of $41.69 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 4.08 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. The stock has a fifty day simple moving average of $195.99 and a two-hundred day simple moving average of $194.54.

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 analysts’ consensus estimates of $1.45 by $0.03. The company 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%. Old Dominion Freight Line’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.33 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.62 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors 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 0.54%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 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.