Sheaff Brock Investment Advisors LLC Grows Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Sheaff Brock Investment Advisors LLC raised its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,787 shares of the transportation company’s stock after purchasing an additional 371 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Old Dominion Freight Line were worth $2,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the period. Capital Research Global Investors raised its stake in shares of Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after acquiring an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after buying an additional 270,538 shares in the last quarter. Finally, Capital World Investors increased its holdings in Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after buying an additional 1,228,116 shares during the period. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

ODFL has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI reduced their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Bank of America dropped their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Robert W. Baird reduced their target price on shares of 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. Finally, Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and cut their price objective for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $200.00.

Old Dominion Freight Line Stock Down 1.0 %

Shares of NASDAQ:ODFL opened at $223.43 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a market capitalization of $47.70 billion, a PE ratio of 39.06, a P/E/G ratio of 6.36 and a beta of 0.99. The firm has a 50 day simple moving average of $200.71 and a 200-day simple moving average of $191.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. On average, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.46 EPS 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. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.47%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the firm’s 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 transaction, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greg C. Gantt sold 7,000 shares of the company’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 approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is owned by corporate insiders.

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.