Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stake Boosted by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 32.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,568 shares of the transportation company’s stock after acquiring an additional 12,095 shares during the period. Sanctuary Advisors LLC’s holdings in Old Dominion Freight Line were worth $10,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in Old Dominion Freight Line by 6.9% in the second quarter. Assenagon Asset Management S.A. now owns 6,763 shares of the transportation company’s stock valued at $1,194,000 after acquiring an additional 435 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Old Dominion Freight Line by 360.9% in the 2nd quarter. Blue Trust Inc. now owns 1,014 shares of the transportation company’s stock valued at $179,000 after purchasing an additional 794 shares during the last quarter. Calton & Associates Inc. bought a new stake in Old Dominion Freight Line in the second quarter worth $203,000. Marshall Financial Group LLC increased its position in Old Dominion Freight Line by 519.1% during the second quarter. Marshall Financial Group LLC now owns 9,020 shares of the transportation company’s stock worth $1,593,000 after buying an additional 7,563 shares during the last quarter. Finally, Western Financial Corp CA raised its holdings in Old Dominion Freight Line by 29.4% during the second quarter. Western Financial Corp CA now owns 5,896 shares of the transportation company’s stock valued at $1,041,000 after buying an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

ODFL opened at $200.69 on Friday. The stock’s 50 day simple moving average is $209.13 and its 200-day simple moving average is $195.93. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $42.85 billion, a PE ratio of 35.09, a P/E/G ratio of 4.29 and a beta of 1.00. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced 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 firm had revenue of $1.47 billion for 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 for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. Sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

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 issued 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 0.52%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent analyst reports. Susquehanna decreased their price target on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. Evercore ISI dropped their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. Barclays upped their price objective on shares of 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. Finally, Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. One investment 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 data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average target price of $204.00.

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.