Mediolanum International Funds Ltd Buys 814 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Mediolanum International Funds Ltd grew its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,531 shares of the transportation company’s stock after acquiring an additional 814 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Old Dominion Freight Line were worth $3,246,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Old Dominion Freight Line by 132.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,499 shares of the transportation company’s stock valued at $13,487,000 after buying an additional 35,096 shares during the period. Grimes & Company Inc. lifted its stake in Old Dominion Freight Line by 100.2% during the first quarter. Grimes & Company Inc. now owns 1,333 shares of the transportation company’s stock worth $292,000 after purchasing an additional 667 shares during the period. Symphony Financial Ltd. Co. acquired a new stake in Old Dominion Freight Line during the first quarter valued at approximately $220,000. LVW Advisors LLC grew its stake in shares of Old Dominion Freight Line by 126.2% in the 1st quarter. LVW Advisors LLC now owns 3,086 shares of the transportation company’s stock valued at $677,000 after purchasing an additional 1,722 shares during the period. Finally, Caerus Investment Advisors LLC grew its stake in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Caerus Investment Advisors LLC now owns 2,910 shares of the transportation company’s stock valued at $638,000 after purchasing an additional 1,455 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore ISI decreased their price target 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. Robert W. Baird dropped their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday. Bank of America reduced their price target 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. Barclays dropped their price objective on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Citigroup assumed coverage on Old Dominion Freight Line in a research report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $197.79 on Friday. The firm’s 50 day moving average price is $195.53 and its two-hundred day moving average price is $190.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. Old Dominion Freight Line, Inc. has a 52-week low of $165.49 and a 52-week high of $227.80. The stock has a market cap of $42.98 billion, a PE ratio of 33.90, a PEG ratio of 4.20 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line, Inc. will post 5.56 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 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 0.53%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 17.82%.

Insider Activity at Old Dominion Freight Line

In other 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 owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line 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 sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were 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 of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

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.