Moody National Bank Trust Division Takes $232,000 Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Moody National Bank Trust Division acquired a new stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 907 shares of the transportation company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFM Investors Pty Ltd lifted its position in shares of Old Dominion Freight Line by 17.7% in the first quarter. IFM Investors Pty Ltd now owns 14,973 shares of the transportation company’s stock valued at $4,472,000 after acquiring an additional 2,249 shares in the last quarter. ProShare Advisors LLC increased its stake in Old Dominion Freight Line by 994.3% in the first quarter. ProShare Advisors LLC now owns 201,217 shares of the transportation company’s stock valued at $60,099,000 after purchasing an additional 182,830 shares during the last quarter. Norges Bank acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $335,106,000. Private Advisor Group LLC increased its stake in Old Dominion Freight Line by 2.9% in the first quarter. Private Advisor Group LLC now owns 10,242 shares of the transportation company’s stock valued at $3,059,000 after purchasing an additional 290 shares during the last quarter. Finally, Ascent Group LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $1,217,000. 73.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 6,246 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $300.14, for a total transaction of $1,874,674.44. Following the sale, the chairman now directly owns 809,569 shares in the company, valued at approximately $242,984,039.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.30% of the stock is currently owned by company insiders.

Old Dominion Freight Line Trading Down 1.8 %

NASDAQ:ODFL opened at $253.58 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $282.29 and its two-hundred day moving average is $276.35. Old Dominion Freight Line, Inc. has a 52 week low of $231.31 and a 52 week high of $373.58. The company has a market cap of $28.34 billion, a PE ratio of 23.52, a P/E/G ratio of 1.36 and a beta of 1.07.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last released its earnings results on Wednesday, July 27th. The transportation company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.21. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the business posted $2.31 EPS. Old Dominion Freight Line’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line, Inc. will post 11.72 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, September 6th. Old Dominion Freight Line’s dividend payout ratio is presently 11.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ODFL shares. UBS Group dropped their target price on Old Dominion Freight Line from $288.00 to $279.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Morgan Stanley upped their price target on Old Dominion Freight Line from $310.00 to $314.00 and gave the stock an “equal weight” rating in a research note on Friday, August 12th. Vertical Research lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating and set a $260.00 price target for the company. in a research note on Wednesday, August 17th. Susquehanna dropped their price target on Old Dominion Freight Line from $285.00 to $270.00 in a research note on Thursday, July 28th. Finally, Raymond James dropped their price target on Old Dominion Freight Line from $305.00 to $265.00 in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $292.13.

About Old Dominion Freight Line

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Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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