Ashton Thomas Securities LLC Makes New $64,000 Investment in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Ashton Thomas Securities LLC acquired a new position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 322 shares of the transportation company’s stock, valued at approximately $64,000.

A number of other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC increased its position in shares of Old Dominion Freight Line by 189.5% during the 1st quarter. Empowered Funds LLC now owns 3,260 shares of the transportation company’s stock valued at $715,000 after purchasing an additional 2,134 shares during the last quarter. Sei Investments Co. increased its position in shares of Old Dominion Freight Line by 98.6% during the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after purchasing an additional 21,438 shares during the last quarter. NorthRock Partners LLC increased its position in shares of Old Dominion Freight Line by 51.4% during the 1st quarter. NorthRock Partners LLC now owns 952 shares of the transportation company’s stock valued at $209,000 after purchasing an additional 323 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Old Dominion Freight Line by 134.1% during the 1st quarter. QRG Capital Management Inc. now owns 4,343 shares of the transportation company’s stock valued at $953,000 after purchasing an additional 2,488 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new position in shares of Old Dominion Freight Line during the 1st quarter valued at approximately $337,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 2.4 %

Shares of NASDAQ ODFL opened at $226.32 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.46. The stock has a market capitalization of $48.32 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 6.37 and a beta of 0.99. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $233.26. The business has a fifty day moving average price of $199.36 and a 200 day moving average price of $190.54.

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 during the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 EPS. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced 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. This represents a $1.04 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Analysts Set New Price Targets

ODFL has been the topic of several analyst reports. Stephens reissued an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. TD Cowen dropped their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, Citigroup boosted 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $198.33.

Insider Activity at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 10,000 shares of the company’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 directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated 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 transaction, 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 filing with the SEC, which is available at this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 in the last ninety days. Corporate insiders own 9.90% of the company’s stock.

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.