Massmutual Trust Co. FSB ADV Sells 162 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Massmutual Trust Co. FSB ADV lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,033 shares of the transportation company’s stock after selling 162 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Old Dominion Freight Line were worth $602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin Edwards Inc. purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at about $25,000. Trust Co. of Vermont purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. raised its position in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the period. Atwood & Palmer Inc. lifted its stake in shares of 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 buying an additional 148 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $191.86 on Friday. The firm has a market capitalization of $41.69 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 4.08 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The business has a 50 day simple moving average of $195.99 and a 200-day simple moving average of $194.54. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year 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 analysts’ consensus estimates 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $1.33 earnings per share. Old Dominion Freight Line’s revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.62 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The shares were 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 owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the business’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 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ODFL shares. Stephens reiterated an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Susquehanna boosted their price target on Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Wednesday, September 18th. Wells Fargo & Company cut their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Robert W. Baird upped their target price on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $201.39.

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.