Fortis Capital Management LLC Sells 13,598 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fortis Capital Management LLC trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 71.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,521 shares of the transportation company’s stock after selling 13,598 shares during the period. Fortis Capital Management LLC’s holdings in Old Dominion Freight Line were worth $1,097,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line in the second quarter worth approximately $25,000. Atwood & Palmer Inc. increased its stake in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares in the last quarter. Crewe Advisors LLC purchased a new position in Old Dominion Freight Line in the 1st quarter worth approximately $38,000. Versant Capital Management Inc grew its holdings in Old Dominion Freight Line by 1,630.0% during the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after buying an additional 163 shares in the last quarter. Finally, LRI Investments LLC grew its stake in Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.3 %

Shares of NASDAQ ODFL opened at $225.60 on Thursday. The business has a fifty day simple moving average of $199.96 and a 200-day simple moving average of $190.79. The company has a market cap of $48.17 billion, a price-to-earnings ratio of 39.44, a P/E/G ratio of 6.38 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a quick ratio of 1.33, 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, beating the consensus estimate 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 return on equity of 29.40% and a net margin of 21.03%. 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 firm earned $1.54 earnings per share. Sell-side analysts predict that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Stephens reiterated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Barclays lifted their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday. TD Cowen cut their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Finally, Bank of America dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $200.00.

Insiders Place Their Bets

In other news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was 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 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 disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 over the last three months. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Company 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.