Atlantic Union Bankshares Corp Acquires 1,184 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Atlantic Union Bankshares Corp boosted its holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 7.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,573 shares of the transportation company’s stock after buying an additional 1,184 shares during the period. Atlantic Union Bankshares Corp’s holdings in Old Dominion Freight Line were worth $3,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Old Dominion Freight Line by 91.3% in the 1st quarter. Janus Henderson Group PLC now owns 26,320 shares of the transportation company’s stock worth $5,769,000 after purchasing an additional 12,563 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Old Dominion Freight Line by 4.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,492 shares of the transportation company’s stock worth $327,000 after buying an additional 66 shares during the period. Comerica Bank grew its position in shares of Old Dominion Freight Line by 104.3% during the 1st quarter. Comerica Bank now owns 36,719 shares of the transportation company’s stock worth $8,053,000 after buying an additional 18,742 shares during the period. Atria Investments Inc raised its position in shares of Old Dominion Freight Line by 81.6% in the 1st quarter. Atria Investments Inc now owns 19,002 shares of the transportation company’s stock valued at $4,167,000 after acquiring an additional 8,537 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Old Dominion Freight Line by 513.0% during the 1st quarter. Cetera Investment Advisers now owns 31,145 shares of the transportation company’s stock worth $6,830,000 after acquiring an additional 26,064 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $225.14 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average price is $206.07 and its two-hundred day moving average price is $193.53. The company has a market cap of $48.07 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 4.69 and a beta of 0.99. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results 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. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned $1.54 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on ODFL. BMO Capital Markets lowered their target price on shares of 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. Stephens reaffirmed an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Finally, Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $200.41.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Old Dominion Freight Line 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.