Empowered Funds LLC Boosts Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Empowered Funds LLC lifted its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,543 shares of the transportation company’s stock after purchasing an additional 199 shares during the quarter. Empowered Funds LLC’s holdings in Old Dominion Freight Line were worth $704,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 0.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after buying an additional 54 shares during the last quarter. Conning Inc. grew its position 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 acquiring an additional 64 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Old Dominion Freight Line by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after acquiring an additional 66 shares during the last quarter. Quent Capital LLC raised its position in Old Dominion Freight Line by 5.5% in the second quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock valued at $226,000 after purchasing an additional 67 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of Old Dominion Freight Line by 5.0% in the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock valued at $294,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’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 transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on 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 directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,975 shares of company stock valued at $10,062,478. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Up 0.9 %

Shares of NASDAQ:ODFL opened at $220.25 on Friday. The company’s fifty day moving average is $203.84 and its two-hundred day moving average is $192.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The stock has a market capitalization of $47.02 billion, a price-to-earnings ratio of 38.51, a price-to-earnings-growth ratio of 4.57 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.54 EPS. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BMO Capital Markets dropped their price target 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 report on Thursday, October 24th. Citigroup lifted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI cut their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $200.00.

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.