Victory Capital Management Inc. Has $45.06 Million Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Victory Capital Management Inc. lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 226,850 shares of the transportation company’s stock after selling 6,994 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Old Dominion Freight Line worth $45,062,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Benjamin Edwards Inc. acquired a new stake in Old Dominion Freight Line in the 2nd quarter worth about $25,000. Atwood & Palmer Inc. raised 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 purchasing an additional 148 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Old Dominion Freight Line in the 1st quarter worth about $38,000. Versant Capital Management Inc raised its stake in Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares in the last quarter. Finally, LRI Investments LLC raised its stake in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday. Susquehanna decreased their target price on shares of 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. Finally, Bank of America decreased their target price 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 investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average 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 the business’s 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 in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 in the company, valued at $19,584,852.30. This trade represents a 6.67 % 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 in the last ninety days. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line Trading Down 3.5 %

ODFL opened at $215.57 on Friday. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $46.02 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 6.36 and a beta of 0.99. The company’s 50 day moving average price is $201.32 and its two-hundred day moving average price is $191.23.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its 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. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm posted $1.54 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.46 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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 issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

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.