Angeles Wealth Management LLC Acquires 106 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Angeles Wealth Management LLC raised its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,042 shares of the transportation company’s stock after buying an additional 106 shares during the quarter. Angeles Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $604,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Foundations Investment Advisors LLC increased its position in shares of Old Dominion Freight Line by 0.6% during the second quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock worth $1,611,000 after acquiring an additional 54 shares in the last quarter. Conning Inc. raised its stake in shares of 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 last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of 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 last quarter. Quent Capital LLC boosted its position in shares of Old Dominion Freight Line by 5.5% during the second quarter. Quent Capital LLC now owns 1,277 shares of the transportation company’s stock valued at $226,000 after buying an additional 67 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in Old Dominion Freight Line by 5.0% during the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ODFL shares. Barclays cut their price objective on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Susquehanna cut their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus downgraded 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 note on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned 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 $196.39.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This 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 through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated 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 directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,401,621 shares in the company, 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. Insiders sold a total of 46,975 shares of company stock worth $9,386,158 over the last ninety days. 9.90% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $0.34 during mid-day trading on Friday, reaching $200.98. The company’s stock had a trading volume of 936,470 shares, compared to its average volume of 1,444,859. The firm’s fifty day moving average price is $195.57 and its two-hundred day moving average price is $190.03. The company has a market capitalization of $43.67 billion, a P/E ratio of 35.14, a PEG ratio of 4.30 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.48 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is 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.