Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 35.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 809 shares of the transportation company’s stock after selling 453 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Old Dominion Freight Line were worth $161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Private Advisor Group LLC grew its position in Old Dominion Freight Line by 117.5% during the 1st quarter. Private Advisor Group LLC now owns 8,716 shares of the transportation company’s stock worth $1,912,000 after purchasing an additional 4,709 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Old Dominion Freight Line by 53.9% during the first quarter. Sequoia Financial Advisors LLC now owns 4,567 shares of the transportation company’s stock valued at $1,002,000 after buying an additional 1,600 shares during the period. Janney Montgomery Scott LLC lifted its stake in Old Dominion Freight Line by 98.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,343 shares of the transportation company’s stock worth $2,926,000 after acquiring an additional 6,623 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Old Dominion Freight Line by 99.5% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,926 shares of the transportation company’s stock worth $1,080,000 after acquiring an additional 2,457 shares during the period. Finally, Choreo LLC grew its stake in Old Dominion Freight Line by 100.0% during the 1st quarter. Choreo LLC now owns 1,118 shares of the transportation company’s stock valued at $246,000 after acquiring an additional 559 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

ODFL has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Old Dominion Freight Line in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 target price for the company. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Raymond James boosted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Susquehanna cut their price target on 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. Finally, JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $200.98 on Monday. The stock has a 50-day simple moving average of $195.57 and a 200 day simple moving average of $189.82. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. The stock has a market capitalization of $43.67 billion, a PE ratio of 35.14, a P/E/G ratio of 4.30 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 earnings per share. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.48 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insiders Place Their Bets

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on 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 sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the company’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 transaction, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,975 shares of company stock worth $9,386,158 in the last ninety days. 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.