Old Dominion Freight Line, Inc. $ODFL Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lowered its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,028 shares of the transportation company’s stock after selling 5,202 shares during the period. Segall Bryant & Hamill LLC owned 0.06% of Old Dominion Freight Line worth $18,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in Old Dominion Freight Line during the second quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after purchasing an additional 123 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 100.0% during the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at $37,000. Finally, Zions Bancorporation National Association UT increased its stake in Old Dominion Freight Line by 273.5% in the third quarter. Zions Bancorporation National Association UT now owns 437 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 0.1%

Old Dominion Freight Line stock opened at $207.94 on Wednesday. Old Dominion Freight Line, Inc. has a 52 week low of $126.01 and a 52 week high of $209.15. The stock has a market cap of $43.34 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 10.36 and a beta of 1.23. The stock has a 50 day moving average of $181.08 and a 200-day moving average of $156.93.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.Old Dominion Freight Line’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. As a group, equities analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 23.19%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ODFL. Stifel Nicolaus set a $217.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Raymond James Financial boosted their price objective on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. increased their target price on Old Dominion Freight Line from $150.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Old Dominion Freight Line in a report on Thursday, February 19th. Finally, Evercore upped their price target on Old Dominion Freight Line from $150.00 to $200.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $190.50.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the transaction, the chairman owned 712,800 shares in the company, valued at approximately $138,832,056. The trade was a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Earl E. Congdon sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the transaction, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This trade represents a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 80,134 shares of company stock worth $15,640,132. Insiders own 10.00% of the company’s stock.

Old Dominion Freight Line Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.