Deseret Mutual Benefit Administrators Acquires 165 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Deseret Mutual Benefit Administrators increased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 67.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 409 shares of the transportation company’s stock after buying an additional 165 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Old Dominion Freight Line were worth $72,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ODFL. Trust Co. of Vermont purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $29,000. Neo Ivy Capital Management purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $40,000. Farmers & Merchants Investments Inc. lifted its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in Old Dominion Freight Line by 135.7% in the 4th quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after purchasing an additional 76 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Down 5.1 %

Old Dominion Freight Line stock traded down $10.04 during trading hours on Thursday, reaching $185.60. The stock had a trading volume of 241,903 shares, compared to its average volume of 1,573,817. The stock has a market cap of $40.33 billion, a PE ratio of 34.44, a PEG ratio of 3.76 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The company has a fifty day simple moving average of $193.69 and a 200-day simple moving average of $197.82.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 EPS. Analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 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, September 18th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ODFL. Barclays lowered their price objective on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. JPMorgan Chase & Co. raised their price objective on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. BMO Capital Markets raised their price objective on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Susquehanna lowered their price objective on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. Finally, Morgan Stanley lowered their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $200.88.

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.