Eagle Asset Management Inc. Sells 63,865 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Eagle Asset Management Inc. decreased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 674,484 shares of the transportation company’s stock after selling 63,865 shares during the period. Eagle Asset Management Inc. owned 0.32% of Old Dominion Freight Line worth $133,980,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Natixis lifted its stake in shares of Old Dominion Freight Line by 137.1% in the first quarter. Natixis now owns 3,794 shares of the transportation company’s stock valued at $832,000 after buying an additional 2,194 shares during the period. Crewe Advisors LLC acquired a new stake in Old Dominion Freight Line in the 1st quarter valued at $38,000. Advisors Asset Management Inc. grew its position in Old Dominion Freight Line by 105.1% in the first quarter. Advisors Asset Management Inc. now owns 16,418 shares of the transportation company’s stock valued at $3,601,000 after acquiring an additional 8,412 shares during the period. Toronto Dominion Bank raised its stake in Old Dominion Freight Line by 102.7% during the first quarter. Toronto Dominion Bank now owns 105,773 shares of the transportation company’s stock worth $23,197,000 after acquiring an additional 53,595 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Old Dominion Freight Line by 305.3% during the first quarter. Canada Pension Plan Investment Board now owns 157,352 shares of the transportation company’s stock valued at $34,509,000 after acquiring an additional 118,529 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Up 2.2 %

Old Dominion Freight Line stock opened at $218.98 on Friday. The stock has a market capitalization of $46.75 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 4.43 and a beta of 0.99. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a 50 day moving average of $203.28 and a 200-day moving average of $192.11. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business posted $1.54 EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.47%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 in the last 90 days. 9.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Raymond James upped their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. reduced their target price on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, Stephens restated an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $200.00.

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.