MassMutual Private Wealth & Trust FSB Trims Stock Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

MassMutual Private Wealth & Trust FSB reduced its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,643 shares of the transportation company’s stock after selling 390 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Old Dominion Freight Line were worth $466,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Avanza Fonder AB purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $3,741,000. Toronto Dominion Bank lifted its stake in shares of Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Old Dominion Freight Line in the 4th quarter worth $600,000. Sequoia Financial Advisors LLC increased its stake in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after buying an additional 1,017 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in Old Dominion Freight Line during the third quarter valued at about $2,109,000. 77.82% of the stock is currently owned by institutional investors.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the firm’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 sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ODFL shares. Citigroup upped their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Robert W. Baird cut their target price 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. Finally, The Goldman Sachs Group boosted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $201.50.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $190.43 on Wednesday. The stock has a market cap of $40.66 billion, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 5.05 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50 day moving average price of $198.13 and a 200-day moving average price of $197.92. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned $1.54 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities analysts expect that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

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.