Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Freedom Day Solutions LLC

Freedom Day Solutions LLC reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,906 shares of the transportation company’s stock after selling 62 shares during the quarter. Freedom Day Solutions LLC’s holdings in Old Dominion Freight Line were worth $1,968,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Old Dominion Freight Line by 132.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,499 shares of the transportation company’s stock valued at $13,487,000 after buying an additional 35,096 shares during the last quarter. Transform Wealth LLC increased its holdings in shares of Old Dominion Freight Line by 100.2% in the 1st quarter. Transform Wealth LLC now owns 3,420 shares of the transportation company’s stock valued at $750,000 after acquiring an additional 1,712 shares during the last quarter. AMF Tjanstepension AB increased its holdings in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. AMF Tjanstepension AB now owns 41,532 shares of the transportation company’s stock valued at $9,110,000 after acquiring an additional 20,766 shares during the last quarter. OneAscent Wealth Management LLC raised its position in shares of Old Dominion Freight Line by 97.3% during the 1st quarter. OneAscent Wealth Management LLC now owns 2,245 shares of the transportation company’s stock valued at $492,000 after acquiring an additional 1,107 shares in the last quarter. Finally, OneAscent Financial Services LLC lifted its stake in Old Dominion Freight Line by 120.5% during the first quarter. OneAscent Financial Services LLC now owns 3,813 shares of the transportation company’s stock worth $836,000 after purchasing an additional 2,084 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $191.81 on Friday. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $227.80. The firm has a market capitalization of $41.68 billion, a PE ratio of 32.87, a P/E/G ratio of 4.20 and a beta of 0.99. The company’s 50 day simple moving average is $195.58 and its 200 day simple moving average is $190.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly 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 company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.54 EPS. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.56 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 17.82%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on 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 transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Old Dominion Freight Line news, 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 owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Bank of America dropped their price objective 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. Raymond James lifted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley dropped their price target on 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. Finally, Stephens restated an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line 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.