Summit Trail Advisors LLC Buys 523 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Summit Trail Advisors LLC boosted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 25.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,566 shares of the transportation company’s stock after buying an additional 523 shares during the quarter. Summit Trail Advisors LLC’s holdings in Old Dominion Freight Line were worth $510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line during the 2nd quarter valued at about $25,000. Atwood & Palmer Inc. increased its position in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc increased its position in Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 163 shares during the period. LRI Investments LLC increased its position in Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in Old Dominion Freight Line by 472.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 189 shares during the period. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling at Old Dominion Freight Line

In related news, 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 transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction 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 sale, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,000 shares of company stock worth $4,028,510. Company insiders own 9.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ODFL shares. Susquehanna cut their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Bank of America cut 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 report on Friday, September 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $200.00.

Old Dominion Freight Line Stock Up 0.4 %

NASDAQ:ODFL opened at $225.97 on Wednesday. The company has a market cap of $48.24 billion, a PE ratio of 39.51, a P/E/G ratio of 4.61 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 current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $204.50 and its two-hundred day moving average is $192.81.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data 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 net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period 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. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.46%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

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.