Whittier Trust Co. Increases Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Whittier Trust Co. increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 91,514 shares of the transportation company’s stock after buying an additional 3,037 shares during the quarter. Whittier Trust Co.’s holdings in Old Dominion Freight Line were worth $18,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. grew its holdings in shares of Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in Old Dominion Freight Line by 138.3% in the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 83 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Old Dominion Freight Line by 206.4% in the first quarter. Hexagon Capital Partners LLC now owns 144 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 97 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line in the second quarter valued at $25,000. Finally, Atwood & Palmer Inc. boosted its holdings in Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price 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. 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. Stephens reaffirmed an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Finally, Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $209.00 to $197.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $199.44.

Old Dominion Freight Line Price Performance

ODFL traded down $1.85 on Monday, hitting $197.69. 739,350 shares of the company were exchanged, compared to its average volume of 1,536,281. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The business’s fifty day moving average is $195.53 and its 200 day moving average is $191.37. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The firm has a market capitalization of $42.96 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 earnings per share. As a group, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.59 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

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.