Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Bought by Harfst & Associates Inc.

Harfst & Associates Inc. lifted its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 28.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,743 shares of the transportation company’s stock after acquiring an additional 2,166 shares during the quarter. Harfst & Associates Inc.’s holdings in Old Dominion Freight Line were worth $1,935,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ODFL. Vanguard Group Inc. raised its position in Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after buying an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares during the period. Capital Research Global Investors grew its position in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after purchasing an additional 2,447,121 shares during the last quarter. Capital World Investors grew its position 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 worth $535,943,000 after buying an additional 1,228,116 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Old Dominion Freight Line by 283.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after purchasing an additional 815,817 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Trading Down 1.0 %

Shares of Old Dominion Freight Line stock traded down $1.98 during trading on Friday, reaching $199.54. 1,450,600 shares of the stock were exchanged, compared to its average volume of 1,320,784. The stock’s fifty day moving average is $195.53 and its 200 day moving average is $191.55. The firm has a market cap of $43.36 billion, a price-to-earnings ratio of 34.20, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. 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, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. As a group, equities research analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 17.82%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts have issued reports on ODFL shares. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Bank of America decreased their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. Susquehanna increased their price target on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird lifted their target price on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $200.56.

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.