OneAscent Wealth Management LLC Purchases New Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

OneAscent Wealth Management LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,689 shares of the transportation company’s stock, valued at approximately $335,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. grew its holdings in shares of Old Dominion Freight Line by 8.5% in the 3rd quarter. Meeder Advisory Services Inc. now owns 3,835 shares of the transportation company’s stock valued at $762,000 after buying an additional 301 shares during the period. RiverPark Advisors LLC lifted its holdings in Old Dominion Freight Line by 6.9% during the third quarter. RiverPark Advisors LLC now owns 3,954 shares of the transportation company’s stock worth $785,000 after acquiring an additional 256 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Old Dominion Freight Line by 2.9% in the third quarter. Mutual of America Capital Management LLC now owns 26,182 shares of the transportation company’s stock valued at $5,201,000 after acquiring an additional 747 shares during the period. Kinsale Capital Group Inc. increased its holdings in shares of Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock worth $4,627,000 after acquiring an additional 3,614 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Old Dominion Freight Line by 17.1% during the third quarter. Natixis Advisors LLC now owns 324,906 shares of the transportation company’s stock worth $64,539,000 after purchasing an additional 47,354 shares during the period. 77.82% of the stock is owned by institutional investors.

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line 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 completion of the sale, the director now owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird decreased their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group dropped their price objective on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets lowered their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Finally, Evercore ISI decreased their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $200.00.

Old Dominion Freight Line Trading Down 0.7 %

Old Dominion Freight Line stock opened at $213.99 on Tuesday. The stock has a 50-day simple moving average of $201.81 and a 200 day simple moving average of $191.58. The stock has a market capitalization of $45.69 billion, a P/E ratio of 37.41, a PEG ratio of 4.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a 52 week low of $165.49 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results 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 return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $1.54 EPS. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts expect that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is presently 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.