Peregrine Asset Advisers Inc. acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,078 shares of the transportation company's stock, valued at approximately $2,201,000.
A number of other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of Old Dominion Freight Line by 189.5% during the first quarter. Empowered Funds LLC now owns 3,260 shares of the transportation company's stock worth $715,000 after buying an additional 2,134 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $1,837,000. Sei Investments Co. raised its holdings in shares of Old Dominion Freight Line by 98.6% in the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company's stock valued at $9,471,000 after purchasing an additional 21,438 shares in the last quarter. NorthRock Partners LLC grew its stake in shares of Old Dominion Freight Line by 51.4% during the first quarter. NorthRock Partners LLC now owns 952 shares of the transportation company's stock worth $209,000 after purchasing an additional 323 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Old Dominion Freight Line by 108.3% during the first quarter. Meeder Advisory Services Inc. now owns 2,896 shares of the transportation company's stock worth $635,000 after purchasing an additional 1,506 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman David S. Congdon sold 29,975 shares of the 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 approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman David S. Congdon sold 29,975 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares of the company's stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were 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 of the company's stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,975 shares of company stock worth $9,386,158 over the last quarter. 9.90% of the stock is currently owned by insiders.
ODFL has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an "underweight" rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. cut their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. Stifel Nicolaus cut Old Dominion Freight Line from a "buy" rating to a "hold" rating and cut their target price for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Finally, Evercore ISI reduced 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 note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $196.39.
Get Our Latest Stock Analysis on ODFL
Shares of ODFL stock opened at $226.11 on Monday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $231.36. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $197.95 and a 200-day simple moving average of $189.99. The stock has a market cap of $48.27 billion, a P/E ratio of 39.53, a P/E/G ratio of 6.37 and a beta of 0.99.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during 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%. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.54 earnings per share. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio is presently 18.18%.
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.
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