Eventide Asset Management LLC Has $148.68 Million Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Eventide Asset Management LLC lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 748,495 shares of the transportation company’s stock after selling 3,631 shares during the quarter. Old Dominion Freight Line makes up approximately 2.6% of Eventide Asset Management LLC’s portfolio, making the stock its 3rd largest holding. Eventide Asset Management LLC owned 0.35% of Old Dominion Freight Line worth $148,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of Old Dominion Freight Line by 91.3% in the first quarter. Janus Henderson Group PLC now owns 26,320 shares of the transportation company’s stock worth $5,769,000 after buying an additional 12,563 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Old Dominion Freight Line by 4.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock valued at $327,000 after acquiring an additional 66 shares in the last quarter. Hancock Whitney Corp lifted its holdings in Old Dominion Freight Line by 126.8% in the 1st quarter. Hancock Whitney Corp now owns 2,098 shares of the transportation company’s stock worth $460,000 after purchasing an additional 1,173 shares during the last quarter. Comerica Bank boosted its position in Old Dominion Freight Line by 104.3% during the first quarter. Comerica Bank now owns 36,719 shares of the transportation company’s stock worth $8,053,000 after purchasing an additional 18,742 shares during the period. Finally, Atria Investments Inc grew its holdings in Old Dominion Freight Line by 81.6% during the first quarter. Atria Investments Inc now owns 19,002 shares of the transportation company’s stock valued at $4,167,000 after purchasing an additional 8,537 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In other news, 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 owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $224.11 on Friday. The firm has a market capitalization of $47.85 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 4.69 and a beta of 0.99. 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, Inc. has a 12-month low of $165.49 and a 12-month high of $233.26. The firm has a 50-day moving average price of $205.67 and a 200 day moving average price of $193.32.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the firm posted $1.54 EPS. Old Dominion Freight Line’s quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ODFL shares. Susquehanna reduced their price objective on shares of 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. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. BMO Capital Markets lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Evercore ISI dropped their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. Finally, TD Cowen decreased their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” 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 issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $200.41.

Old Dominion Freight Line Company 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.