Merit Financial Group LLC Buys New Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Merit Financial Group LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,556 shares of the transportation company’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at $45,000. Brown Brothers Harriman & Co. increased its holdings in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the period. Quarry LP acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at $60,000. Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 45.5% during the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after acquiring an additional 110 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $64,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 0.4 %

NASDAQ ODFL opened at $190.81 on Friday. The stock has a market capitalization of $40.74 billion, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 5.03 and a beta of 1.05. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a fifty day moving average of $196.26 and a 200-day moving average of $198.02.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 29.40% and a net margin of 21.03%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ODFL shares. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Citigroup boosted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Robert W. Baird cut their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $202.44.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, 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 transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

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.