Hennion & Walsh Asset Management Inc. Sells 5,788 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 19.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 23,279 shares of the transportation company’s stock after selling 5,788 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Old Dominion Freight Line were worth $4,624,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Old Dominion Freight Line by 5.0% during the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock worth $294,000 after purchasing an additional 71 shares during the period. International Assets Investment Management LLC increased its stake in shares of Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after acquiring an additional 681,858 shares during the last quarter. Capital Investment Counsel Inc raised its position in shares of Old Dominion Freight Line by 2.7% in the 3rd quarter. Capital Investment Counsel Inc now owns 5,800 shares of the transportation company’s stock valued at $1,152,000 after acquiring an additional 150 shares during the period. Hartford Investment Management Co. raised its position in shares of Old Dominion Freight Line by 3.8% in the 3rd quarter. Hartford Investment Management Co. now owns 11,856 shares of the transportation company’s stock valued at $2,355,000 after acquiring an additional 436 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Old Dominion Freight Line by 3.6% during the 3rd quarter. Private Advisor Group LLC now owns 9,638 shares of the transportation company’s stock worth $1,914,000 after acquiring an additional 339 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of the 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 sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the firm’s 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 completion of the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. 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 insiders.

Old Dominion Freight Line Stock Down 5.5 %

NASDAQ:ODFL opened at $188.67 on Thursday. The firm has a market capitalization of $41.00 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 4.18 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a twelve month low of $165.49 and a twelve month high of $227.80. The stock’s 50 day moving average price is $195.69 and its two-hundred day moving average price is $190.84.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the firm earned $1.54 EPS. Old Dominion Freight Line’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.59 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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 given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BMO Capital Markets lowered shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $214.00 to $210.00 in a report on Friday, October 18th. Raymond James raised their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America reduced their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $198.61.

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.