Central Bank & Trust Co. Sells 8,178 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Central Bank & Trust Co. trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 30.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,706 shares of the transportation company’s stock after selling 8,178 shares during the period. Central Bank & Trust Co.’s holdings in Old Dominion Freight Line were worth $3,716,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Private Advisor Group LLC raised its stake in Old Dominion Freight Line by 117.5% in the first quarter. Private Advisor Group LLC now owns 8,716 shares of the transportation company’s stock valued at $1,912,000 after buying an additional 4,709 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Old Dominion Freight Line by 98.6% during the first quarter. Janney Montgomery Scott LLC now owns 13,343 shares of the transportation company’s stock worth $2,926,000 after buying an additional 6,623 shares during the period. Choreo LLC grew its holdings in shares of Old Dominion Freight Line by 100.0% during the first quarter. Choreo LLC now owns 1,118 shares of the transportation company’s stock valued at $246,000 after buying an additional 559 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Old Dominion Freight Line by 107.1% in the 1st quarter. Nordea Investment Management AB now owns 13,716 shares of the transportation company’s stock valued at $3,003,000 after acquiring an additional 7,093 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in Old Dominion Freight Line by 96.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 27,410 shares of the transportation company’s stock worth $6,011,000 after acquiring an additional 13,431 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Morgan Stanley lowered 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. Susquehanna dropped their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. TD Cowen reduced their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Finally, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Trading Up 1.5 %

Shares of ODFL opened at $203.99 on Tuesday. 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 $44.32 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 4.30 and a beta of 0.99. The firm’s fifty day moving average is $195.57 and its two-hundred day moving average is $189.67. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

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

Old Dominion Freight Line Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Insider Activity

In other news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available at this hyperlink. In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line 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 sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,975 shares of company stock valued at $9,386,158. 9.90% of the stock is currently owned by insiders.

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.