Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Holdings Lowered by Commerce Bank

Commerce Bank trimmed its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 6.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,363 shares of the transportation company’s stock after selling 525 shares during the period. Commerce Bank’s holdings in Old Dominion Freight Line were worth $1,463,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $25,000. Atwood & Palmer Inc. boosted its position 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 valued at $27,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc increased its stake in Old Dominion Freight Line by 1,630.0% in the 2nd quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares in the last quarter. LRI Investments LLC raised its holdings in Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after buying an additional 79 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 189 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ODFL shares. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Barclays raised their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $200.00.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,975 shares of company stock valued at $10,062,478. Company insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Up 0.9 %

Old Dominion Freight Line stock opened at $220.25 on Friday. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $233.26. The company’s fifty day moving average price is $203.84 and its two-hundred day moving average price is $192.44. 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 company has a market capitalization of $47.02 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 4.57 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 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.