Fmr LLC Sells 379,258 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Fmr LLC lowered its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,748,141 shares of the transportation company’s stock after selling 379,258 shares during the quarter. Fmr LLC owned approximately 1.29% of Old Dominion Freight Line worth $545,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. SevenBridge Financial Group LLC raised its holdings in shares of Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after acquiring an additional 50 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 0.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after acquiring an additional 54 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after acquiring an additional 55 shares in the last quarter. Conning Inc. raised its holdings in shares of Old Dominion Freight Line by 5.8% in the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after acquiring an additional 64 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Old Dominion Freight Line by 4.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock valued at $327,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Analyst Ratings Changes

ODFL has been the topic of several recent analyst reports. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Susquehanna decreased their price objective on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Citigroup raised their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. One research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $200.41.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % 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 corporate insiders.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $224.11 on Friday. The firm has a market cap of $47.85 billion, a P/E ratio of 39.18, a P/E/G ratio of 4.71 and a beta of 0.99. Old Dominion Freight Line, Inc. has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The business’s 50 day moving average price is $205.67 and its 200-day moving average price is $193.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.54 EPS. On average, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio is currently 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.