Integrated Investment Consultants LLC Invests $2.11 Million in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Integrated Investment Consultants LLC bought a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,596 shares of the transportation company’s stock, valued at approximately $2,105,000.

Other large investors have also added to or reduced their stakes in the company. Seven Eight Capital LP grew its position in shares of Old Dominion Freight Line by 141.1% during the first quarter. Seven Eight Capital LP now owns 1,806 shares of the transportation company’s stock valued at $396,000 after purchasing an additional 1,057 shares in the last quarter. Lake Street Advisors Group LLC grew its position in Old Dominion Freight Line by 135.6% in the first quarter. Lake Street Advisors Group LLC now owns 2,078 shares of the transportation company’s stock worth $456,000 after acquiring an additional 1,196 shares in the last quarter. Natixis increased its position in shares of Old Dominion Freight Line by 137.1% during the 1st quarter. Natixis now owns 3,794 shares of the transportation company’s stock valued at $832,000 after purchasing an additional 2,194 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the first quarter valued at $38,000. Finally, Advisors Asset Management Inc. lifted its stake in Old Dominion Freight Line by 105.1% in the first quarter. Advisors Asset Management Inc. now owns 16,418 shares of the transportation company’s stock worth $3,601,000 after purchasing an additional 8,412 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insiders Place Their Bets

In related news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale 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 dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock valued at $10,062,478 in the last 90 days. 9.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ODFL shares. The Goldman Sachs Group lowered their target price on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets dropped their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price objective for the company from $209.00 to $197.00 in a report on Monday, October 21st. Robert W. Baird dropped their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $200.00.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $214.33 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $45.76 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 4.43 and a beta of 0.99. The firm’s 50 day simple moving average is $202.73 and its 200-day simple moving average is $191.92. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. Analysts expect 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. Shareholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.49%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Old Dominion Freight Line Company 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.