Financial Counselors Inc. Has $7.86 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Financial Counselors Inc. raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 18.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,577 shares of the transportation company’s stock after acquiring an additional 6,197 shares during the period. Financial Counselors Inc.’s holdings in Old Dominion Freight Line were worth $7,862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODFL. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at $25,000. Atwood & Palmer Inc. raised its holdings in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc raised its holdings in 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 acquiring an additional 163 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after buying an additional 79 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Old Dominion Freight Line by 472.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 189 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on ODFL. Robert W. Baird lowered their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price target for the stock from $209.00 to $197.00 in a report on Monday, October 21st. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Stephens reissued an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, fourteen have assigned 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, the company has a consensus rating of “Hold” and an average price target of $200.41.

Insider Buying and Selling

In related news, Director Leo H. Suggs sold 3,000 shares of the company’s 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Old Dominion Freight Line Stock Down 0.8 %

Shares of NASDAQ:ODFL opened at $224.11 on Friday. The company has a market capitalization of $47.85 billion, a price-to-earnings ratio of 39.18, a P/E/G ratio of 4.69 and a beta of 0.99. 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 business’s 50-day moving average is $205.67 and its 200-day moving average is $193.32. 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 announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 EPS. Equities research analysts predict that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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 paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend 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.