Integrated Investment Consultants LLC Buys Shares of 10,596 Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Integrated Investment Consultants LLC purchased a new position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 10,596 shares of the transportation company’s stock, valued at approximately $2,105,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ODFL. Benjamin Edwards Inc. purchased a new stake in shares of Old Dominion Freight Line during the second quarter worth approximately $25,000. Atwood & Palmer Inc. lifted its position in shares of 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 purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares in the last quarter. LRI Investments LLC increased its holdings in Old Dominion Freight Line by 73.1% in the second 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 last quarter. Finally, Crewe Advisors LLC purchased a new position in Old Dominion Freight Line in the first quarter valued at $38,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s 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 sale, the chairman now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,975 shares of company stock valued at $10,062,478. Corporate insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the stock from $209.00 to $197.00 in a report on Monday, October 21st. TD Cowen lowered their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company cut their price objective on shares of 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. The Goldman Sachs Group lowered their target price on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, 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 on the stock in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $200.00.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $214.33 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $45.76 billion, a PE ratio of 37.47, a P/E/G ratio of 4.43 and a beta of 0.99. The stock has a fifty day moving average price of $202.73 and a 200 day moving average price of $191.92. 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 released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS 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 net margin of 21.03% and a return on equity of 29.40%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $1.54 EPS. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

About Old Dominion Freight Line

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.