SRS Capital Advisors Inc. Has $1.25 Million Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

SRS Capital Advisors Inc. raised its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 37.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,067 shares of the transportation company’s stock after purchasing an additional 1,942 shares during the period. SRS Capital Advisors Inc.’s holdings in Old Dominion Freight Line were worth $1,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ODFL. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line during the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new stake in Old Dominion Freight Line during the 4th quarter valued at $29,000. Neo Ivy Capital Management bought a new stake in Old Dominion Freight Line during the 4th quarter valued at $40,000. Farmers & Merchants Investments Inc. raised its holdings in 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 acquiring an additional 62 shares during the period. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 135.7% in the fourth quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after purchasing an additional 76 shares during the period. 77.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated 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 directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated 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 directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 29,975 shares of the 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 transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Trading Down 0.7 %

Shares of NASDAQ:ODFL traded down $1.24 during midday trading on Friday, hitting $184.82. 1,429,755 shares of the stock traded hands, compared to its average volume of 1,587,230. The stock has a market capitalization of $40.16 billion, a PE ratio of 32.54, a P/E/G ratio of 3.76 and a beta of 0.99. The business’s 50 day moving average is $194.08 and its two-hundred day moving average is $197.55. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion during 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 company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 earnings per share. As a group, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on ODFL. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday. Raymond James upped their target price on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. 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 investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $201.00.

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.