Certuity LLC Buys 1,248 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Certuity LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 34.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,896 shares of the transportation company’s stock after acquiring an additional 1,248 shares during the quarter. Certuity LLC’s holdings in Old Dominion Freight Line were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Acadian Asset Management LLC boosted its position in shares of Old Dominion Freight Line by 329.8% during the second quarter. Acadian Asset Management LLC now owns 28,238 shares of the transportation company’s stock valued at $4,983,000 after buying an additional 21,668 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in Old Dominion Freight Line by 37.9% in the second quarter. SRS Capital Advisors Inc. now owns 7,067 shares of the transportation company’s stock worth $1,248,000 after purchasing an additional 1,942 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in Old Dominion Freight Line by 15.0% in the second quarter. Illinois Municipal Retirement Fund now owns 67,908 shares of the transportation company’s stock worth $11,993,000 after purchasing an additional 8,862 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 189 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in Old Dominion Freight Line by 6.7% in the second quarter. Private Advisor Group LLC now owns 9,299 shares of the transportation company’s stock worth $1,642,000 after purchasing an additional 583 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Old Dominion Freight Line

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. TD Cowen dropped their target price on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday. Barclays lowered their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. Raymond James lifted their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America lowered their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Susquehanna lowered their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $201.00.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $184.82 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $227.80. The stock’s 50 day simple moving average is $194.08 and its two-hundred day simple moving average is $197.36. The company has a market cap of $40.16 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 3.83 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted $1.33 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.65 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

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.