Old Dominion Freight Line, Inc. $ODFL Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lessened its position in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 10.4% in the third quarter, Holdings Channel.com reports. The fund owned 435,111 shares of the transportation company’s stock after selling 50,367 shares during the quarter. Natixis Advisors LLC’s holdings in Old Dominion Freight Line were worth $61,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Old Dominion Freight Line by 100.0% during the 3rd 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 period. Raiffeisen Bank International AG acquired a new stake in Old Dominion Freight Line during the 3rd quarter worth approximately $37,000. Finally, Zions Bancorporation National Association UT raised its holdings 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 buying an additional 320 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 52,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the transaction, the chairman directly owned 712,800 shares of the company’s stock, valued at $138,832,056. This represents a 6.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 80,134 shares of company stock worth $15,640,132 in the last quarter. 10.00% of the stock is owned by corporate insiders.

Old Dominion Freight Line Stock Up 1.7%

Shares of NASDAQ:ODFL opened at $197.22 on Tuesday. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $221.63. The company has a 50 day moving average of $184.76 and a two-hundred day moving average of $158.43. The company has a market capitalization of $41.11 billion, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 4.08 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.29 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is presently 24.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ODFL. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. The Goldman Sachs Group reissued a “buy” rating and issued a $195.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. BMO Capital Markets restated an “outperform” rating on shares of Old Dominion Freight Line in a report on Thursday, February 19th. TD Cowen upped their price target on shares of Old Dominion Freight Line from $167.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price target for the company. in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $190.50.

Old Dominion Freight Line Company 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.