Whalen Wealth Management Inc. Makes New $681,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Whalen Wealth Management Inc. purchased a new stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,427 shares of the transportation company’s stock, valued at approximately $681,000.

A number of other hedge funds have also recently made changes to their positions in the company. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the second quarter worth $25,000. Atwood & Palmer Inc. boosted its holdings in shares of 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. Versant Capital Management Inc increased its position in shares of 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 purchasing an additional 163 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares in the last quarter. Finally, Crewe Advisors LLC bought a new stake in Old Dominion Freight Line in the 1st quarter worth approximately $38,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ODFL has been the subject of a number of recent research reports. BMO Capital Markets lowered their price objective on shares of 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. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group decreased their price target on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Evercore ISI dropped 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 research note on Thursday, October 3rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $200.00.

Insider Buying and Selling

In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The shares were 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 $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is owned by insiders.

Old Dominion Freight Line Stock Down 0.7 %

Shares of NASDAQ:ODFL opened at $213.99 on Tuesday. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year 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 stock has a market cap of $45.69 billion, a P/E ratio of 37.41, a P/E/G ratio of 4.51 and a beta of 0.99. The firm has a fifty day moving average price of $201.81 and a 200 day moving average price of $191.58.

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

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

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.