Hennion & Walsh Asset Management Inc. Sells 5,788 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Hennion & Walsh Asset Management Inc. decreased its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,279 shares of the transportation company’s stock after selling 5,788 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $4,624,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Los Angeles Capital Management LLC raised its stake in Old Dominion Freight Line by 97.9% during the first quarter. Los Angeles Capital Management LLC now owns 2,082 shares of the transportation company’s stock worth $457,000 after acquiring an additional 1,030 shares in the last quarter. Ballentine Partners LLC lifted its stake in Old Dominion Freight Line by 111.7% in the 1st quarter. Ballentine Partners LLC now owns 1,634 shares of the transportation company’s stock valued at $358,000 after purchasing an additional 862 shares during the last quarter. GoalVest Advisory LLC lifted its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. GoalVest Advisory LLC now owns 248 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 124 shares during the last quarter. DGS Capital Management LLC boosted its position in Old Dominion Freight Line by 101.5% in the first quarter. DGS Capital Management LLC now owns 2,194 shares of the transportation company’s stock valued at $481,000 after buying an additional 1,105 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth $3,792,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $188.67 on Thursday. The company has a market cap of $41.00 billion, a P/E ratio of 33.22, a PEG ratio of 4.18 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $195.69 and a two-hundred day moving average price of $190.84. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm posted $1.54 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. As a group, analysts anticipate that Old Dominion Freight Line, Inc. will post 5.59 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ODFL. TD Cowen cut their price target on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Susquehanna lifted their target price on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Wednesday, September 18th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the company from $209.00 to $197.00 in a research report on Monday. Stephens reaffirmed an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $198.61.

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.