Mutual of America Capital Management LLC Has $4.49 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mutual of America Capital Management LLC decreased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,435 shares of the transportation company’s stock after selling 1,975 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Old Dominion Freight Line were worth $4,492,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $29,000. Neo Ivy Capital Management purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $40,000. 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 valued at $27,000 after buying an additional 62 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in Old Dominion Freight Line by 103.0% in the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after acquiring an additional 68 shares in 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 related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line 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 of the company’s stock, valued at $282,146,307.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Old Dominion Freight Line 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 owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction 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 completion of 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. Company insiders own 9.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ODFL. Robert W. Baird upped their target price on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective on shares of 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. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Evercore ISI reiterated an “in-line” rating and set a $196.00 price objective (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. Finally, Barclays reduced their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $201.83.

Old Dominion Freight Line Trading Down 5.2 %

ODFL stock opened at $193.97 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. 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 business’s 50 day moving average is $196.27 and its 200-day moving average is $195.67. The firm has a market cap of $42.15 billion, a P/E ratio of 34.15, a P/E/G ratio of 3.92 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued 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 payout ratio is presently 18.31%.

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.