1,065 Shares in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Acquired by Baldwin Investment Management LLC

Baldwin Investment Management LLC acquired a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,065 shares of the transportation company’s stock, valued at approximately $212,000.

A number of other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. purchased a new position in shares of Old Dominion Freight Line in the second quarter valued at $25,000. Atwood & Palmer Inc. increased its holdings in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc increased its holdings in Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 163 shares in the last quarter. LRI Investments LLC raised its position in Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after acquiring an additional 79 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 189 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

ODFL stock opened at $224.11 on Thursday. The stock has a 50-day moving average price of $205.13 and a two-hundred day moving average price of $193.10. The company has a market cap of $47.85 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 4.71 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. 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 announced 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 net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company posted $1.54 earnings per share. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date 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 currently 18.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays lifted their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group reduced their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $200.41.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

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.