Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by MQS Management LLC

MQS Management LLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,123 shares of the transportation company’s stock after selling 148 shares during the quarter. MQS Management LLC’s holdings in Old Dominion Freight Line were worth $223,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ODFL. Foundations Investment Advisors LLC lifted its holdings in Old Dominion Freight Line by 0.6% in the second quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after purchasing an additional 54 shares during the period. Conning Inc. lifted its holdings in Old Dominion Freight Line by 5.8% in the second quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock worth $206,000 after purchasing an additional 64 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Old Dominion Freight Line by 4.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after purchasing an additional 66 shares during the period. Quent Capital LLC lifted its holdings in Old Dominion Freight Line by 5.5% in the second quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock worth $226,000 after purchasing an additional 67 shares during the period. Finally, Brighton Jones LLC lifted its holdings in Old Dominion Freight Line by 5.0% in the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after purchasing an additional 71 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ODFL shares. JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Bank of America cut their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Citigroup raised their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Raymond James boosted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $200.00.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock worth $10,062,478 over the last 90 days. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $215.57 on Friday. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 6.36 and a beta of 0.99. The stock’s fifty day simple moving average is $201.32 and its 200-day simple moving average is $191.23.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

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.