Paragon Advisors LLC Has $2.45 Million Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Paragon Advisors LLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.5% during the third quarter, Holdings Channel reports. The fund owned 12,331 shares of the transportation company’s stock after selling 313 shares during the period. Paragon Advisors LLC’s holdings in Old Dominion Freight Line were worth $2,450,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its holdings in Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after acquiring an additional 1,017 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Old Dominion Freight Line by 7.6% in the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock valued at $18,754,000 after purchasing an additional 7,460 shares during the last quarter. Sei Investments Co. grew its position in shares of Old Dominion Freight Line by 98.6% during the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after buying an additional 21,438 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Old Dominion Freight Line by 85.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 214,954 shares of the transportation company’s stock worth $47,041,000 after buying an additional 99,228 shares during the last quarter. Finally, Ground Swell Capital LLC lifted its holdings in Old Dominion Freight Line by 262.6% in the third quarter. Ground Swell Capital LLC now owns 6,701 shares of the transportation company’s stock valued at $1,331,000 after buying an additional 4,853 shares during the period. 77.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ODFL. Susquehanna dropped their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price objective for the company from $209.00 to $197.00 in a report on Monday, October 21st. JPMorgan Chase & Co. reduced their target price 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. TD Cowen decreased their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Finally, Stephens reiterated an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $200.00.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred 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 directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,975 shares of company stock valued at $10,062,478 in the last ninety days. 9.90% of the stock is currently owned by corporate insiders.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $215.57 on Friday. The company has a fifty day moving average price of $201.32 and a 200 day moving average price of $191.23. The firm has a market cap of $46.02 billion, a PE ratio of 37.69, a PEG ratio of 6.36 and a beta of 0.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 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 in the prior year, the firm earned $1.54 earnings per share. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared 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 0.48%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

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.