Gulf International Bank UK Ltd Trims Holdings in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Gulf International Bank UK Ltd trimmed its stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,594 shares of the transportation company’s stock after selling 700 shares during the period. Gulf International Bank UK Ltd’s holdings in Old Dominion Freight Line were worth $3,097,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its position in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Old Dominion Freight Line by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after acquiring an additional 270,538 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after acquiring an additional 1,228,116 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,975 shares of company stock worth $9,386,158 in the last quarter. Company insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

ODFL has been the subject of a number of recent research reports. Raymond James lifted their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. BMO Capital Markets decreased their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Susquehanna decreased their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price 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, Robert W. Baird decreased their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $196.39.

Old Dominion Freight Line Stock Up 11.2 %

ODFL opened at $230.18 on Thursday. The business’s 50-day simple moving average is $195.95 and its 200-day simple moving average is $189.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.33. Old Dominion Freight Line, Inc. has a one year low of $165.49 and a one year high of $231.36. The stock has a market capitalization of $50.02 billion, a P/E ratio of 40.24, a price-to-earnings-growth ratio of 4.38 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS 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 analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. Analysts anticipate that Old Dominion Freight Line, Inc. will post 5.46 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.45%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

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.