Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,811 shares of the transportation company’s stock after buying an additional 1,903 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Old Dominion Freight Line were worth $7,210,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Trust Co. of Vermont purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line during the 4th quarter worth $29,000. Neo Ivy Capital Management purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at $40,000. Farmers & Merchants Investments Inc. boosted its stake in Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in shares of Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on 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 directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman David S. Congdon sold 29,975 shares of the 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 directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on 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 completion of the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ODFL shares. Morgan Stanley cut their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Raymond James increased their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. TD Cowen dropped their price target on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, Barclays dropped their price objective on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $201.83.

Old Dominion Freight Line Trading Down 5.2 %

Shares of ODFL stock opened at $193.97 on Friday. The firm’s 50-day simple moving average is $196.27 and its 200-day simple moving average is $195.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The firm has a market cap of $42.15 billion, a P/E ratio of 34.15, a PEG ratio of 3.92 and a beta of 0.99.

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

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend 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.