Farther Finance Advisors LLC Acquires 588 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Farther Finance Advisors LLC lifted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 76.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,360 shares of the transportation company’s stock after purchasing an additional 588 shares during the period. Farther Finance Advisors LLC’s holdings in Old Dominion Freight Line were worth $243,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ODFL. Duncker Streett & Co. Inc. boosted its stake in shares of Old Dominion Freight Line by 47.6% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 12,396 shares of the transportation company’s stock worth $2,189,000 after acquiring an additional 4,000 shares in the last quarter. Rothschild Investment LLC bought a new stake in Old Dominion Freight Line during the second quarter worth approximately $176,000. Canal Capital Management LLC grew its holdings in Old Dominion Freight Line by 4.0% during the second quarter. Canal Capital Management LLC now owns 588,109 shares of the transportation company’s stock valued at $103,860,000 after purchasing an additional 22,613 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Old Dominion Freight Line in the second quarter valued at approximately $257,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Old Dominion Freight Line by 1.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,690 shares of the transportation company’s stock worth $3,301,000 after buying an additional 354 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Trading Down 4.9 %

Shares of ODFL opened at $186.06 on Friday. The stock has a fifty day moving average price of $193.92 and a two-hundred day moving average price of $197.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $40.43 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 3.76 and a beta of 1.00. 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 issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Analysts predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ODFL shares. Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research note on Thursday. Evercore ISI reiterated an “in-line” rating and issued a $196.00 price objective (down from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Morgan Stanley cut their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday. Finally, Bank of America increased their price objective on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $201.33.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

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.