Atlantic Union Bankshares Corp Acquires 1,184 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Atlantic Union Bankshares Corp grew its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.7% during the third quarter, HoldingsChannel.com reports. The firm owned 16,573 shares of the transportation company’s stock after acquiring an additional 1,184 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Old Dominion Freight Line were worth $3,292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ODFL. International Assets Investment Management LLC raised its holdings in Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after acquiring an additional 681,858 shares in the last quarter. Bristol Gate Capital Partners Inc. acquired a new position in Old Dominion Freight Line in the second quarter valued at about $92,697,000. Renaissance Technologies LLC bought a new stake in Old Dominion Freight Line during the second quarter worth about $82,398,000. Bridges Investment Management Inc. lifted its position in Old Dominion Freight Line by 136.0% during the second quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company’s stock worth $108,657,000 after purchasing an additional 354,588 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after buying an additional 270,538 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Up 0.5 %

Shares of NASDAQ ODFL opened at $225.14 on Friday. The firm has a 50 day moving average price of $206.07 and a two-hundred day moving average price of $193.53. The stock has a market cap of $48.07 billion, a P/E ratio of 39.36, a price-to-earnings-growth ratio of 4.69 and a beta of 0.99. 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.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The company 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%. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 earnings per share. As a group, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.46%. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ODFL has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group reduced their target price on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Barclays boosted their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Finally, Stephens reaffirmed an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $200.41.

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.