Glenmede Trust Co. NA Increases Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Glenmede Trust Co. NA grew its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,520 shares of the transportation company’s stock after buying an additional 148 shares during the period. Glenmede Trust Co. NA’s holdings in Old Dominion Freight Line were worth $19,967,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC raised its stake in shares of Old Dominion Freight Line by 20.5% during the third quarter. Townsquare Capital LLC now owns 15,155 shares of the transportation company’s stock valued at $3,010,000 after purchasing an additional 2,576 shares during the period. Baldwin Investment Management LLC acquired a new stake in Old Dominion Freight Line during the third quarter valued at approximately $212,000. Avestar Capital LLC bought a new position in Old Dominion Freight Line during the third quarter worth $223,000. Brooklyn Investment Group boosted its holdings in shares of Old Dominion Freight Line by 10.8% in the 3rd quarter. Brooklyn Investment Group now owns 1,163 shares of the transportation company’s stock valued at $231,000 after buying an additional 113 shares during the period. Finally, Partners Group Holding AG boosted its stake in Old Dominion Freight Line by 227.4% in the third quarter. Partners Group Holding AG now owns 116,954 shares of the transportation company’s stock valued at $23,232,000 after acquiring an additional 81,230 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ODFL shares. Susquehanna decreased their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets cut their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Evercore ISI decreased their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Bank of America lowered their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Barclays raised their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $200.41.

Old Dominion Freight Line Price Performance

ODFL stock opened at $224.11 on Thursday. The company has a market capitalization of $47.85 billion, a P/E ratio of 39.18, a PEG ratio of 4.71 and a beta of 0.99. The company has a fifty day moving average price of $205.13 and a 200-day moving average price of $193.10. 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, Inc. has a 52-week low of $165.49 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion during 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 revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.54 EPS. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Insider Transactions at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value 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. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

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.