National Pension Service Buys 28,093 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

National Pension Service increased its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,366 shares of the transportation company’s stock after acquiring an additional 28,093 shares during the quarter. National Pension Service owned approximately 0.12% of Old Dominion Freight Line worth $53,904,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Private Advisor Group LLC increased its position in Old Dominion Freight Line by 117.5% in the 1st quarter. Private Advisor Group LLC now owns 8,716 shares of the transportation company’s stock valued at $1,912,000 after buying an additional 4,709 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Old Dominion Freight Line by 98.6% during the first quarter. Janney Montgomery Scott LLC now owns 13,343 shares of the transportation company’s stock valued at $2,926,000 after acquiring an additional 6,623 shares in the last quarter. Choreo LLC raised its position in shares of Old Dominion Freight Line by 100.0% during the first quarter. Choreo LLC now owns 1,118 shares of the transportation company’s stock worth $246,000 after purchasing an additional 559 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Old Dominion Freight Line by 107.1% in the 1st quarter. Nordea Investment Management AB now owns 13,716 shares of the transportation company’s stock worth $3,003,000 after purchasing an additional 7,093 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Old Dominion Freight Line by 96.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 27,410 shares of the transportation company’s stock valued at $6,011,000 after purchasing an additional 13,431 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction dated Monday, October 28th. The stock was 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 owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,975 shares of company stock worth $9,386,158. Corporate insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of 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. Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Robert W. Baird reduced their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $207.01 on Wednesday. The company has a market cap of $44.98 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 4.30 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $195.67 and its two-hundred day simple moving average is $189.65. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business 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%. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 EPS. Research analysts predict that Old Dominion Freight Line, Inc. will post 5.48 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

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.