Allworth Financial LP Sells 9,596 Shares of Old Dominion Freight Line, Inc. $ODFL

Allworth Financial LP cut its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 84.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,825 shares of the transportation company’s stock after selling 9,596 shares during the period. Allworth Financial LP’s holdings in Old Dominion Freight Line were worth $257,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in ODFL. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after buying an additional 123 shares during the period. Westside Investment Management Inc. increased its holdings in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $37,000. Caitong International Asset Management Co. Ltd bought a new stake in Old Dominion Freight Line during the third quarter valued at $55,000. Finally, Zions Bancorporation National Association UT increased its stake in shares of Old Dominion Freight Line by 273.5% in the 3rd quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 320 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America set a $165.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, December 18th. Stifel Nicolaus set a $217.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Argus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective on the stock in a research report on Thursday, February 12th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, March 4th. Finally, UBS Group reaffirmed a “neutral” rating and set a $202.00 target price (up from $164.00) on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $191.08.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $187.93 on Friday. The firm has a market capitalization of $39.17 billion, a PE ratio of 38.91, a PEG ratio of 3.97 and a beta of 1.23. The stock’s fifty day moving average is $189.45 and its 200 day moving average is $161.33. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is presently 24.02%.

Insider Activity at Old Dominion Freight Line

In other news, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the transaction, the insider directly owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total transaction of $608,842.18. Following the sale, the director directly owned 11,278 shares in the company, valued at approximately $2,190,977.06. The trade was a 21.75% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is owned by company insiders.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.