Two Sigma Advisers LP Has $89.15 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Two Sigma Advisers LP reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 52.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 448,800 shares of the transportation company’s stock after selling 486,200 shares during the period. Two Sigma Advisers LP owned 0.21% of Old Dominion Freight Line worth $89,150,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ODFL. Park Avenue Securities LLC boosted its holdings in shares of Old Dominion Freight Line by 113.9% during the 2nd quarter. Park Avenue Securities LLC now owns 6,988 shares of the transportation company’s stock worth $1,234,000 after buying an additional 3,721 shares in the last quarter. CWM LLC boosted its position in shares of Old Dominion Freight Line by 97.8% during the 2nd quarter. CWM LLC now owns 9,750 shares of the transportation company’s stock worth $1,722,000 after purchasing an additional 4,820 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Old Dominion Freight Line by 46.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,164 shares of the transportation company’s stock valued at $382,000 after buying an additional 686 shares during the period. Csenge Advisory Group increased its position in Old Dominion Freight Line by 7.5% in the 2nd quarter. Csenge Advisory Group now owns 1,630 shares of the transportation company’s stock valued at $288,000 after buying an additional 114 shares in the last quarter. Finally, City Holding Co. raised its stake in Old Dominion Freight Line by 135.0% during the 2nd quarter. City Holding Co. now owns 5,794 shares of the transportation company’s stock worth $1,023,000 after buying an additional 3,328 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Down 3.8 %

ODFL opened at $202.97 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a market cap of $43.33 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 4.57 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $208.05 and a 200 day moving average of $194.71.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business 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 company earned $1.54 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.43 EPS 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. Shareholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Activity

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction 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 in the company, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent research reports. TD Cowen decreased their price objective 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. Evercore ISI dropped their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. BMO Capital Markets decreased their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Barclays raised their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Bank of America decreased their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $201.94.

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.