Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Increased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 50.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,875 shares of the transportation company’s stock after acquiring an additional 3,300 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Old Dominion Freight Line were worth $1,962,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ODFL. Sequoia Financial Advisors LLC grew its position in Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after purchasing an additional 1,017 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Old Dominion Freight Line during the third quarter valued at $2,109,000. Kinsale Capital Group Inc. raised its position in Old Dominion Freight Line by 18.4% during the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after buying an additional 3,614 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Old Dominion Freight Line in the 3rd quarter worth about $30,745,000. Finally, Truist Financial Corp boosted its position in Old Dominion Freight Line by 7.6% during the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after acquiring an additional 7,460 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 2.2 %

Shares of ODFL opened at $225.11 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $204.50 and a two-hundred day moving average price of $192.81. The stock has a market cap of $48.06 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 4.61 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.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm earned $1.54 EPS. Old Dominion Freight Line’s quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend 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 currently 18.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ODFL shares. Susquehanna reduced their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research report 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 for the company in a research note on Friday, September 6th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. The Goldman Sachs Group cut their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Barclays boosted their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $200.00.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction 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 sale, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,000 shares of company stock valued at $4,028,510 in the last ninety days. Insiders own 9.90% of the company’s stock.

Old Dominion Freight Line 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.