Financial Advocates Investment Management Has $476,000 Stock Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Financial Advocates Investment Management increased its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 5.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,396 shares of the transportation company’s stock after acquiring an additional 132 shares during the quarter. Financial Advocates Investment Management’s holdings in Old Dominion Freight Line were worth $476,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Private Advisor Group LLC lifted its holdings in shares of Old Dominion Freight Line by 117.5% in the first quarter. Private Advisor Group LLC now owns 8,716 shares of the transportation company’s stock valued at $1,912,000 after purchasing an additional 4,709 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Old Dominion Freight Line by 53.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,567 shares of the transportation company’s stock worth $1,002,000 after acquiring an additional 1,600 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Old Dominion Freight Line by 344.2% during the 1st quarter. BNP Paribas Financial Markets now owns 304,407 shares of the transportation company’s stock worth $66,759,000 after acquiring an additional 235,883 shares during the period. Janney Montgomery Scott LLC grew its stake in Old Dominion Freight Line by 98.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,343 shares of the transportation company’s stock valued at $2,926,000 after acquiring an additional 6,623 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Old Dominion Freight Line by 99.5% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,926 shares of the transportation company’s stock valued at $1,080,000 after purchasing an additional 2,457 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 0.2 %

NASDAQ:ODFL opened at $200.98 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $195.57 and its 200-day moving average is $190.03. The firm has a market cap of $43.67 billion, a price-to-earnings ratio of 35.14, a P/E/G ratio of 4.30 and a beta of 0.99. 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 announced 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 net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted $1.54 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.48 EPS 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. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is presently 18.18%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Susquehanna decreased their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. Citigroup started coverage on shares of Old Dominion Freight Line in a report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 price target on the stock. Evercore ISI cut their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Finally, BMO Capital Markets lowered their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. 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’s stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $196.39.

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 filing with the SEC, which is available at the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the 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 of the company’s stock, valued at $282,146,307.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated 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 owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,975 shares of company stock worth $9,386,158 in the last 90 days. 9.90% of the stock is owned by company insiders.

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.