Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Position Trimmed by Sib LLC

Sib LLC trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,172 shares of the transportation company’s stock after selling 9,400 shares during the quarter. Old Dominion Freight Line accounts for 14.3% of Sib LLC’s portfolio, making the stock its 2nd largest position. Sib LLC owned about 0.07% of Old Dominion Freight Line worth $27,196,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ODFL. State Street Corp grew its stake in Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after purchasing an additional 279,946 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after buying an additional 275,236 shares in the last quarter. Wellington Management Group LLP increased its holdings in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after buying an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Old Dominion Freight Line by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after acquiring an additional 57,301 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Old Dominion Freight Line by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after acquiring an additional 78,587 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Leo H. Suggs sold 3,000 shares of the 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 owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $189.55 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 has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $199.69 and a 200 day simple moving average of $197.59. The firm has a market capitalization of $40.47 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 3.40 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The business’s revenue was down 3.0% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ODFL. TD Cowen dropped their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Robert W. Baird reduced their price target 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. Stephens reissued an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Finally, BMO Capital Markets reduced 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. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $201.50.

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.