Segment Wealth Management LLC Purchases 76 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Segment Wealth Management LLC boosted its position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,754 shares of the transportation company’s stock after purchasing an additional 76 shares during the period. Segment Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ODFL. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the second quarter worth $25,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the last quarter. Atwood & Palmer Inc. grew its position in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares during the period. Washington Trust Advisors Inc. increased its holdings in Old Dominion Freight Line by 138.3% during the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after buying an additional 83 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

ODFL opened at $199.55 on Wednesday. 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 stock has a market capitalization of $43.36 billion, a P/E ratio of 34.20, a PEG ratio of 4.18 and a beta of 0.99. The stock has a 50-day moving average price of $195.68 and a 200-day moving average price of $191.03. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that Old Dominion Freight Line, Inc. will post 5.59 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced 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 0.52%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 17.82%.

Insider Activity at Old Dominion Freight Line

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

Wall Street Analyst Weigh In

ODFL has been the subject of several research analyst reports. Citigroup assumed coverage on shares of Old Dominion Freight Line in a research note on Wednesday, October 9th. They set a “neutral” rating and a $206.00 price target for the company. TD Cowen dropped 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 report on Friday, September 6th. Stephens reissued an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, September 5th. BMO Capital Markets downgraded shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $214.00 to $210.00 in a report on Friday, October 18th. Finally, Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. 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 given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $199.44.

Old Dominion Freight Line Company Profile

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.