Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Banco Santander S.A.

Banco Santander S.A. lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 48.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,275 shares of the transportation company’s stock after selling 26,195 shares during the quarter. Banco Santander S.A.’s holdings in Old Dominion Freight Line were worth $5,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the 2nd quarter worth $25,000. Atwood & Palmer Inc. grew its stake in Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 163 shares during the period. LRI Investments LLC raised its stake in shares of Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after purchasing an additional 79 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth about $38,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were 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 of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,975 shares of company stock worth $10,062,478. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Trading Up 2.2 %

Shares of NASDAQ:ODFL opened at $218.98 on Friday. The firm has a market capitalization of $46.75 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 4.43 and a beta of 0.99. The business’s 50 day moving average price is $203.28 and its 200-day moving average price is $192.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line, Inc. has a 1 year low of $165.49 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm posted $1.54 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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 paid 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 yield of 0.47%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ODFL shares. Stephens reiterated an “overweight” rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Finally, BMO Capital Markets reduced their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $200.00.

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.