Arkadios Wealth Advisors Raises Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Arkadios Wealth Advisors boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,686 shares of the transportation company’s stock after acquiring an additional 3,879 shares during the quarter. Arkadios Wealth Advisors’ holdings in Old Dominion Freight Line were worth $3,116,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after buying an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after acquiring an additional 2,447,121 shares in the last quarter. Capital World Investors boosted its stake in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after acquiring an additional 1,228,116 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after acquiring an additional 815,817 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Up 3.1 %

Shares of NASDAQ ODFL traded up $5.98 during midday trading on Friday, reaching $197.79. 1,949,251 shares of the stock were exchanged, compared to its average volume of 1,553,221. The company has a 50 day simple moving average of $195.53 and a 200 day simple moving average of $190.66. The stock has a market capitalization of $42.98 billion, a P/E ratio of 33.90, a PEG ratio of 4.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 17.82%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line 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 completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction 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 completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ODFL. Stifel Nicolaus downgraded 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 research report on Monday, October 21st. Morgan Stanley dropped their price target 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 note on Monday, July 8th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Raymond James boosted their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $196.39.

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.