Integrated Wealth Concepts LLC Raises Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Integrated Wealth Concepts LLC increased its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,468 shares of the transportation company’s stock after purchasing an additional 101 shares during the period. Integrated Wealth Concepts LLC’s holdings in Old Dominion Freight Line were worth $887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ODFL. International Assets Investment Management LLC raised its position in shares of Old Dominion Freight Line by 19,764.0% during the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after buying an additional 681,858 shares in the last quarter. Bristol Gate Capital Partners Inc. purchased a new stake in Old Dominion Freight Line during the second quarter valued at about $92,697,000. Renaissance Technologies LLC purchased a new stake in Old Dominion Freight Line during the second quarter valued at about $82,398,000. Bridges Investment Management Inc. lifted its stake in Old Dominion Freight Line by 136.0% during the second quarter. Bridges Investment Management Inc. now owns 615,272 shares of the transportation company’s stock worth $108,657,000 after purchasing an additional 354,588 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Old Dominion Freight Line by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Up 0.5 %

NASDAQ:ODFL opened at $203.93 on Tuesday. 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 market capitalization of $43.54 billion, a PE ratio of 35.65, a P/E/G ratio of 4.25 and a beta of 1.00. The firm’s 50-day moving average price is $208.28 and its 200-day moving average price is $195.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 period last year, the business earned $1.54 earnings per share. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ODFL shares. JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday. Robert W. Baird lowered their price objective on shares of 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. Citigroup increased their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Barclays lifted their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus price target of $202.88.

Insider Activity

In related news, 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 of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.