Metis Global Partners LLC Buys 548 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Metis Global Partners LLC grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,155 shares of the transportation company’s stock after purchasing an additional 548 shares during the period. Metis Global Partners LLC’s holdings in Old Dominion Freight Line were worth $2,216,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ODFL. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line during the 2nd quarter worth $25,000. Atwood & Palmer Inc. lifted its position 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 worth $27,000 after acquiring an additional 148 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after buying an additional 163 shares during the period. LRI Investments LLC lifted its holdings in shares of Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter valued at about $38,000. 77.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ODFL. Susquehanna cut their price objective 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. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Robert W. Baird decreased their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays upped their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, TD Cowen reduced their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average target price of $200.00.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $215.57 on Friday. The stock’s 50-day moving average is $201.32 and its two-hundred day moving average is $191.23. The firm has a market cap of $46.02 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 6.36 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26. 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 (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS 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 during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. Analysts predict that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was 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 trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction dated 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 transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 in the last ninety days. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Company 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.