Segment Wealth Management LLC Has $1.94 Million Position in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Segment Wealth Management LLC grew its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,754 shares of the transportation company’s stock after purchasing an additional 76 shares during the quarter. Segment Wealth Management LLC’s holdings in Old Dominion Freight Line were worth $1,938,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ODFL. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. grew its holdings in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. increased its position 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 worth $27,000 after buying an additional 148 shares during the period. Washington Trust Advisors Inc. lifted its holdings in shares of Old Dominion Freight Line by 138.3% during the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after buying an additional 83 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position 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 acquiring an additional 163 shares during the period. Institutional investors own 77.82% of the company’s stock.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was 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 in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on 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 owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ODFL. TD Cowen cut their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a report on Friday, September 6th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Susquehanna boosted their price target on Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Wednesday, September 18th. Robert W. Baird increased their price objective on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Bank of America reduced their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus price target of $199.44.

Old Dominion Freight Line Price Performance

ODFL stock opened at $199.55 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The firm has a market cap of $43.36 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 4.18 and a beta of 0.99. The company’s fifty day simple moving average is $195.68 and its 200 day simple moving average is $191.03. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $1.33 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that Old Dominion Freight Line, Inc. will post 5.59 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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 paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is currently 17.82%.

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.